Answer:
7.2224
Step-by-step explanation:
The value of the summation is given by the formula ...
Sn = (a1)(1 -r^n)/(1 -r) . . . . . where a1 is the first of n terms, and r is the common ratio.
Your sum has first term and ratio ...
a1 = 2(0.6) . . . . . summation term for n=1
r = 0.6
So the sum is ...

Then the value of the entire given expression is ...

_____
A calculator can help you find the value.
Answer:
1. $686.94
2. $735.03
3. $10707.55
4. $17631.94
5. $19635.72
Step-by-step explanation:
1st Question:
The interest rate is 7% for each year. This means that each year the person has to pay 7% more than the previous amount. So we need to multiply the initial amount by (0.07+1=1.07) in order to get the interest for the first year. if we want to find the second year's interests then we will have to multiply 2 (1.07)'s and so on.
in this case our function is: 600*(1.07)^t=P(t)
when t=2 P(2)=600*(1.07)^2=$686.94
2nd Question:
Function: 600*(1.07)^t=P(t)
when t=3 P(3)=600*(1.07)^3=$735.03
3rd Question:
initial value=$8500
1+0.08=1.08
Function: 8500*(1.08)^t=P(t)
t=3
P(3)=8500*(1.08)^3=$10707.55
4th Question:
initial value=$12000
1+1.08=1.08
t=5
Function: P(t)=12000*(1.08)^t
P(5)=12000*(1.08)^5=$17631.94
5th Question:
Function: 14000*(1.07)^t=P(t)
P(5)=14000*(1.07)^5
P(5)=$19635.72
Answer:
120$
Step-by-step explanation:
as we know the formula to calculate i is (ptr)/100
so i =(1000×6×2)/100
=(12000)/100
=120$