Find a Formula for the Nth Term of the Arithmetic

question 268

Multiple Choice

Find a formula for the nth term of the arithmetic sequence shown in the graph.
-Bruce agrees to go to work for Jim at a rate of 9¢ for the first day, 18¢ for the second day, 36¢ for the third day, 72¢ for the fourth day, and so on. What will Bruce's daily pay be on day 5, and how
Much total wages will he have earned at the end of that day?

• A) Pay on day 5 = $2.88; Total pay through day 5 = $2.79
• B) Pay on day 5 = $2.88; Total pay through day 5 = $1.35
• C) Pay on day 5 = $1.44; Total pay through day 5 = $2.79
• D) Pay on day 5 = $0.16; Total pay through day 5 = $0.31

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Definitions:

Face Value

Face value refers to the nominal or dollar value printed on a security or financial instrument, such as a bond or stock certificate.

Principal Amount

The initial size of a loan or debt on which interest is calculated, or the original investment amount in a financial instrument.

Maturity

The date on which a financial obligation must be repaid in full.

Zero-Coupon Bond

A debt security that does not pay interest but is traded at a deep discount, rendering profit at maturity when the bond is redeemed for its full face value.