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 ninth term of the sequence if
and
.Round your answer to two decimal places.
A) $9,898.12
B) $10,875.05
C) $10,214.72
D) $9,590.28
E) $9,712.38
Correct Answer:
Verified
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