SOLUTION: A) Determine the seventh term of the following geometric sequence? 5 10 20 Write the answer as a single integer value, not an expression. B) Determine the effective rate f

Question 59081: A) Determine the seventh term of the following geometric sequence?
5 10 20
Write the answer as a single integer value, not an expression.
B) Determine the effective rate for each of the following nominal rates. Express the final answer as percent rounded to 2 decimal places:
1. nominal rate is 3.16% compounded annually

2. nominal rate is 2.99% compounded annually

3. nominal rate is 6.04% compounded quarterly
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A) Determine the seventh term of the following geometric sequence?
5 10 20
Write the answer as a single integer value, not an expression.
The 1st term is 5; the common ratio is 2
7th term = 5*2^6 = 320
----------------------------
B) Determine the effective rate for each of the following nominal rates. Express the final answer as percent rounded to 2 decimal places:
1. nominal rate is 3.16% compounded annually
2. nominal rate is 2.99% compounded annually
3. nominal rate is 6.04% compounded quarterly
Comment: You would have to know over what period
of time these rates were being compounded.
Cheers,
Stan H.

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