Question

James deposited some money into a savings account to save for a motorcycle. Based on the interest rate of the account he estimates that his money will grow according to the following table. The values follow a geometric sequence. Qhat is the common ratio of the sequence?

Answer 1

The common ratio (r) of a geometric sequence is found dividing two consecutive terms, as follows:

`\begin{gathered} r=(1457)/(1428)=1.02 \\ r=(1486)/(1457)=1.02 \\ r=(1516)/(1486)=1.02 \\ r=(1546)/(1516)=1.02 \end{gathered}`

The common ratio of the sequence is 1.02