Answered

Clint needs to decrease his budget for groceries by 5% each month. He currently allots for $500 a month on groceries. What will be his allotment after 6 months

Answer :

SouthernRider

Answer:

$386.9

Step-by-step explanation:

Given that current grocery costs are $500 and he want to reduce 5% every month

We can create a geometric progression with a = 500 and common ratio(r) = 0.95

because every time we reduce 5% we actually make the actual cost as 95%

[tex]T(n)=ar^{n-1}[/tex]

Now we should find n=6

[tex]T(6)=500\times(0.95)^{6-1}[/tex]

[tex]t(6)=386.9[/tex]

The allotment is $386.9

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