Find the 12th term of the sequence which has a first term of 14 and has a common ratio of 1.03. Round your answer to the nearest hundredth if necessary.
Since the series has a common ratio then it is a geometric series. thus it will follow the explicit formula given by: an=ar^(n-1) plugging in the values we get: an=14(1.03)^(n-1) thus the 12th term will be: a12=14(1.03)^(12-1) a12=19.38
