Find the Indicated Sum

question 290

Multiple Choice

Find the indicated sum. Use the formula for the sum of the first n terms of a geometric sequence.
-A small business owner made $50,000 the first year he owned his store and made an additional 2% over the previous year in each subsequent year. Find how much he made during his fourth year of business. Find his total earnings during the first four years. (Round to the nearest cent, if necessary.)

• A) $53,060.40; $206,080.40
• B) $0.40; $51,020.40
• C) $86,400.00; $268,400.00
• D) $103,680.00; $372,080.00

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