Question

yui makes a list of the balances in her savings account at the end of each month. she notices that each months total is 5% greater than the previous months total. she writes a recursive formula to describe the account balances. which value should she use as the common ratio? 0.05 0.5 1.05 5.0

Explanation:

Step1: Understand percentage increase

If a value is 5% greater than the previous, we add 5% of the previous value to itself. Mathematically, 5% is 0.05, so the multiplier is \(1 + 0.05\).

Step2: Calculate the multiplier

\(1 + 0.05 = 1.05\). This multiplier is the common ratio in a geometric sequence (since each term is a multiple of the previous), so the common ratio is 1.05.

Answer:

1.05