$P$ Is the Principal $A _ { n }$ Is the Account Balance in Dollars After

question 86

Multiple Choice

$\text { Consider the sequence } \left\{ A _ { n } \right\} \text { whose } n \text {th term is given by } A _ { n } = P \left( 1 + \frac { r } { 12 } \right) ^ { n } \text { where }$ $P$ is the principal, $A _ { n }$ is the account balance in dollars after $n$ months, and $r$ is the interest rate compounded annually. Find the fourth term of the sequence if $P = \$ 9,000$ and $r = 0.065$ . Round your answer to two decimal places.

• A) \(\$ 9,296.08\)
• B) \(\$ 9,599.41\)
• C) \(\$ 9,396.38\)
• D) \(\$ 9,196.59\)
• E) \(\$ 9,236.29\)

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Definitions:

Total Revenue

The total income generated by a company from its business activities, typically from the sale of goods and services before any expenses are deducted.

Quantity Sold

The total number of units of a product sold during a specific period, often used to measure business performance.

Target Return

A financial goal set for the profit or outcome from an investment or business activity.

Average Invested Capital

The mean amount of money invested in a company or project over a certain period, used to compute return on investment.