For the following exercises, determine the value of the annuity for the indicated monthly deposit amount, the number of deposits, and the interest rate. Write 0.65 as an infinite geometric series using summation notation. Then use the formula for finding the sum of an infinite geometric series to convert 0.65 to a fraction.

Chapter 11, Exercise 11.4 #54

For the following exercises, determine the value of the annuity for the indicated monthly deposit amount, the number of deposits, and the interest rate.

Write 0.65 as an infinite geometric series using summation notation. Then use the formula for finding the sum of an infinite geometric series to convert 0.65 to a fraction.

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Related Book For answer-question

Precalculus

1st Edition

Authors: Jay Abramson

ISBN: 9781938168345