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

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