A series of deposits, each of value A and made at equal time intervals, earns an interest
Question:
A series of deposits, each of value A and made at equal time intervals, earns an interest rate of i for the time interval. The deposits have a total value of
A(1 + i) + A(1 + i)2 + A(1 + i)3 + . . . + A(1 + i)n
after n time intervals (just before the next deposit). Find a formula for this sum.
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This is a geometric series with first term A1 i and common ratio 1 i The sum of t...View the full answer
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Related Book For 
Basic Technical Mathematics
ISBN: 9780137529896
12th Edition
Authors: Allyn J. Washington, Richard Evans
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