Consider the sequence whose nth term is given by where P is the principal, is the account balance in dollars after n months, and r is the interest rate compounded annually. Find the sixth term of the sequence if and . Round your answer to two decimal places.
A) $9,518.26
B) $10,061.16
C) $9,696.45
D) $9,342.82
E) $9,412.67

Question

Consider the sequence  whose nth term is given by  where P is the principal,  is the account balance in dollars after n months, and r is the interest rate compounded annually. Find the sixth term of the sequence if  and  . Round your answer to two decimal places. ​
A) $9,518.26 
B) $10,061.16 
C) $9,696.45 
D) $9,342.82 
E) $9,412.67

Quizplus · Accepted Answer

The Answer of Consider the sequence  whose nth term is given by  where P is the principal,  is the account balance in dollars after n months, and r is the interest rate compounded annually. Find the sixth term of the sequence if  and  . Round your answer to two decimal places. ​
A) $9,518.26 
B) $10,061.16 
C) $9,696.45 
D) $9,342.82 
E) $9,412.67

Consider the Sequence Whose Nth Term Is Given by