Answer:
Tom's balance at the end of month 5 = 1,871.77
Step-by-step explanation:
a = 1600
ar = 1664
ar² = 1730.56
common ratio, r = ar/a
= 1664/1600
= 1.04
r = 1.04
what will toms balance be at the end of month 5
Month 5 = ar⁴
= 1600 * 1.04⁴
= 1600 * 1.16985856
= 1,871.773696
Approximately 1,871.77
Tom's balance at the end of month 5 = 1,871.77
