Afurniture store offers a one-year monthly installment plan for a set of living room furniture. the payment for the first month is $65, and then it increases by 5% each month for the rest of the year. how much money is paid after 12 months? round your answer to the nearest dollar. a. $780 b. $819 c. $1,035 d. $1,401

C. $ 1,035

Step-by-step explanation:

Given,

The initial monthly payment = $ 65,

Also, it is increases by 5% each month,

That is, every month the monthly payment will be 105 % or 1.05 of the previous monthly payment,

Thus, there is a GP that shows the given situation,

Having first term, a = 65,

And, common difference, r = 1.05,

Hence, the total payment for 12 months,

Option 'C' is correct.

d i think

step-by-step explanation: