Find the Common Ratio R for the Given Infinite Geometric

question 244

Multiple Choice

Find the common ratio r for the given infinite geometric sequence.
-A sequence of yearly payments of $3000 is invested at an interest rate of 1.5%, compounded annually. What is the total amount of the annuity after 9 years?

• A) $28,178.00
• B) $29,678.00
• C) $28,678.00
• D) $27,678.00

---

Definitions:

Average Sale Period

The average time taken to convert inventory into sales, also known as inventory turnover period.

Accounts Receivable Turnover

A financial ratio that measures how effectively a company is collecting on its credit sales by dividing net credit sales by average accounts receivable.

Horizontal Analysis

A side-by-side comparison of two or more years’ financial statements.

Vertical Analysis

A method of financial statement analysis in which each entry for each of the three major categories of accounts (or financial statements) is represented as a proportion of the total account.