Use the Formula for the Sum of a Geometric Sequence

question 48

Multiple Choice

Use the formula for the sum of a geometric sequence to solve the problem. After a sales clerk works six months, her employer will begin an annuity for her and will contribute $550 every six months to a fund that pays 6% annual interest. After she has been employed for three years, what will be the amount of the annuity? Round your answer to the nearest cent.

• A) $3,554.62
• B) $3,565.25
• C) $3,557.63
• D) $3,487.63

---

Definitions:

Birthday Cakes

Desserts specially made or bought to celebrate a person's birthday, often decorated with icing, candles, and personalized messages.

Average Fixed Cost

The steady expenditure in manufacturing, divided by the total output generated.

Fixed Costs

Costs that do not change with the level of output or sales, such as rent, salaries, and insurance.

Birthday Cakes

Customarily decorated cakes made to celebrate and serve as a centerpiece during birthday festivities.