Given:
Rate = 1.8% = 1.8/100 = 0.018
Owes = $650
Therefore, after one month balance:
[tex](650\times0.018)+650=11.7+650=661.7[/tex]
After second month:
[tex]661.7\times(1+0.018)=661.7\times(1.018)=673.61[/tex]
After third month:
[tex]673.61\times1.018=685.74[/tex]
So, the sequence is:
650, 661.7, 673.61, 685,74...
Answer: D. 650.00, 661.70, 673.61, 685.74, 698.08
