Math Problem Statement

daniela and sorin have each recently received some money , daniela won a cash prize and sorin received an inheritance , daniela had two options to choose from to receive her winnings , in both options , she receives, a payment on the first day of each month for three years, option a)each payment is $4200 option b)the first payment is $1500, in each month which follows,the payment is 4%more than the previous month , find the total amount daniela would receives if she chooses option a , optionb

Solution

Ask a new question for Free

By Image

Drop file here or Click Here to upload

Math Problem Analysis

Mathematical Concepts

Arithmetic sequences
Geometric sequences

Formulas

Sum of an arithmetic series: S = n × a
Sum of a geometric series: S_n = a_1 × (1 - r^n) / (1 - r)

Theorems

Geometric series sum formula

Suitable Grade Level

Grades 10-12