Regular Savings Problem.

Ernest Lee Dunn puts $800 into his IRA each year.The money earns 10% per year interest (APR), which means that at the end of any year the amount in the IRA is 1.1 times the amount at the beginning of that year.

The amount in the account at the beginning of year t is the sum of the worths of each deposit.Starting with the worth of the last deposit, the total is a partial sum of this geometric series:

800+ 800(1.1)+ 800(1.1)²++ 800(1.1)^t

Find the totals in the account for t = 10 yr., 20 yr, and 30 yr.

Do the totals in Problem 6 seem to be converging to a finite limit or diverging toward infinity?

What do you know about partial sums of geometric series that you did not know before?