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:

Efficient Frontier

A concept in modern portfolio theory demonstrating the set of optimal portfolios offering the highest expected return for a given level of risk.

Portfolio Standard Deviation

A measure of the dispersion of the returns of a portfolio, indicating its risk.

Individual Security

A specific financial instrument, such as a stock or bond, representing an investment in assets or rights to ownership.

Covariance

A statistical measure that indicates the extent to which two variables change together; if the covariance is positive, the variables move together, while a negative covariance means they move inversely.