In a geometric sequence, a term is determined by multiplying the previous

term by the rate, explains to MathIsFun.com. One example of a geometric

series, where r=2 is 4, 8, 16, 32, 64, 128, 256… If the rate is less than 1, but
greater than zero, the number grows smaller with each term, as in 1, 1/2, 1/4,
1/8, 1/16, 1/32… where r=1/2. The only limitation on r is that it cannot equal
zero.

Given the rate of travel, it is possible to apply this formula to determine the
number of miles a vehicle travels in a given amount of time, and to calculate
the distance at any time along the trip.

Physicists use geometric progressions to calculate the amount of radioactive

material left after any given number of half-lives of the material. During each
half-life, the material decays by 50 percent.

2. Child Allowance
Parents can have an arrangement where they advance allowances to their children
with a promised increase each week.

For example, a weekly allowance of $4 with a promise of a $2 weekly addition leads

to the following pay in the first 3 weeks: 

Week 1: $4

Week: (4+2) =$6, 

Week 3: (6+2) =$8

This gives an arithmetic sequence with the first term being $4 and the common
difference being $2

3. Machine Depreciation
Assets usually depreciate giving them a limited useful life.

For example, if a company purchased a truck for $35,000 and it depreciates at the
constant rate of $700 per month, its value for each month will follow an arithmetic
sequence.