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Advanced Financial Algebra
Compound Interest and Geometric Sequences — Quiz
Question 6
6
Quiz
Multiple Choice
Compound Interest and Geometric Sequences — Quiz
Question 6 • Advanced Financial Algebra
Melody invests $50 in a stock fund. Each week, she adds an amount to the investment that is two times the previous week's addition. How much will Melody add to her investment in the 8th week? a_n=a_1⋅r^(n−1)
Answer
A
50 dollars
B
3 dollars comma 200
C
12 dollars comma 800
D
6 dollars comma 400
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