Answer:
$5, 115,000
Step-by-step explanation:
First year investment = $5,000
Second year investment = $10,000
Therefore, the common ratio = 10,000/5,000 = 2
The nth term of a GP series is Tn = ar^n-1, where a = first term and r = common ratio = Tn/Tn-1)
Tn = Tenth year investment = $5,000[(2^10) - 1]
= $5,000(1024 - 1)
= $5,000 × 1023
= $5, 115,000
Hence, the investment worth $5, 115,000 in 10 years
Answer:
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Step-by-step explanation:
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