Multiple Choice
Consider the sequence whose nth term is given by
where P is the principal,
is the account balance in dollars after n months, and r is the interest rate compounded annually. Find the sixth term of the sequence if
and
. Round your answer to two decimal places.
A) $9,518.26
B) $10,061.16
C) $9,696.45
D) $9,342.82
E) $9,412.67
Correct Answer:

Verified
Correct Answer:
Verified
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