Use the formula for the sum of a finite series and substitute P for the value of a, the monthly payment you just found. Also, substitute 1 + i for the r value in the formula since the rate of increase is now 1 + the interest rate = i. Now rewrite the formula with the substituted values in simplest form. That simplified formula will determine the future value of a structured savings plan with recurring deposits.

Step-by-step explanation:

Sum of  finite geometric series,

That gives us:

Where:

This is the formula that is used to determine the future value of a structured savings plan with recurring deposits.

rx and sx

step-by-step explanation:

b. 6

step-by-step explanation:

we are given the table representing an exponential function.

we can see from the table that, as x is increasing, the value of y is increasing in the power of 6.

i.e. the following relation is obtained,

x = 1, y = 6

x = 2, y = 36 =

x = 3, y = 216 =

x = 4, y = 1296 =

x = 5, y = 7776 =

so, the geometric series obtained is .

thus, the common ratio is given by = = 6.

hence, the common ratio is 6.