Algebra 2 (1st Edition)

Published by McDougal Littell
ISBN 10: 0618595414
ISBN 13: 978-0-61859-541-9

Chapter 12 Sequences and Series - Mixed Review of Problem Solving - Lessons 12.1-12.3 - Page 818: 1c


$\$ 2,323, 020.48$

Work Step by Step

The general formula for the nth term of a geometric series is given by $a_n= a_1r^{n-1}$ ...(1) The ratio of the successive terms is $r=1.035$ and $a_1=45,000$ Equation (1) gives: $a_5= 45,000 \times (1.035)^{5-1}=\$ 51, 638.54 =-\$ 51, 638.54$ We know that $S_{n}=a_1(\dfrac{1-r^{n}}{1-r})$ Now, $S_{30}=45000 \times (\dfrac{1-(1.035)^{30}}{1-1.035})$ Hence, $S_{30}=\$ 2,323, 020.48$
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