Geometric Stamp
Posted May 3, 2010
By admin
Help with a geometric sequence?
The value of a rare stamp is expected to follow a geometric sequence from year to year. The stamp is now worth $800 and is expected to be worth $1250 two years from now.
How much is it expected to be worth 5 years from now?
How would you solve this? I tried solving it but I got stuck..Please show how you got the answer, it would help a lot 
Thank you so much 
f(n) = ax^n
f(0) = 800
f(2) = 1250
Solve for a, x
f(0) = a* x^0 = 800
a = 800
f(2) = 800*x^2 = 1250
x^2 = 1250/800 = 1.5625
x = SQRT(1.5625) = 1.25
So, f(n) = 800*(1.25)^n
Now solve for n = 5
f(5) = 800*(1.25)^5
= 800*3.05175
= $2,441.41
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