What Term of the Arithmetic Sequence Is the Given Number $$60.04,75.03,90.02 , \ldots ; 329.86$$

question 23

Multiple Choice

What term of the arithmetic sequence is the given number?
- $$60.04,75.03,90.02 , \ldots ; 329.86$$

• A) 22
• B) 21
• C) 19
• D) 20

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Definitions:

Interest Rate

The cost of borrowing money or the compensation for the service and risk of lending money, expressed as a percentage of the principal loan amount.

Cash Flows

The movement of funds into and out of a business, project, or financial product, reflecting operational, investment, and financing activities.

Annuity

A financial product that pays out a fixed stream of payments to an individual, typically used as an income stream for retirees.

Rate Of Return

The elevation or devaluation of an investment’s worth over an established period, profiled as a percentage of the original investment cost.