High Tech Electronics advertises a weekly installment plan for the purchase of a popular brand of big screen TV. The buyer pays $5 at the end of the first week, $5.50 at the end of the second week, $6.05 at the end of the third week, and so on for one year.

a. What will the payments be at the end of the 20th week? Show your work.

b. Find the total cost of the TV. Show your work.

Question

High Tech Electronics advertises a weekly installment plan for the purchase of a popular brand of big screen TV. The buyer pays $5 at the end of the first week, $5.50 at the end of the second week, $6.05 at the end of the third week, and so on for one year.

a. What will the payments be at the end of the 20th week? Show your work.

b. Find the total cost of the TV. Show your work.

anonymous · Answer

We can see a pattern emerge in the payments over the first few weeks. The first week we see the flat rate, $5.00. The next week is $5.50. This could be either and addition of $0.50 every week, or a %10 growth. When we look at the third week, if it were an addition of $0.50, we would expect to see a cost of $6.00, but instead we see $6.05. With this we can conclude that every week the buyer pays %10 more than the last week.

anonymous · Answer

With this information, can you make an equation that represents what I just said?