
Let

denote the

th partial sum of the series, i.e.

Then

and subtracting from

we get


As

, the exponential term vanishes, leaving us with

and so
Answer: 1 1/3 or 4/3
Step-by-step explanation: f(4) =1/3(4) = 4/3 = 1 1/3
The future value of cash whose initial value is $845, at the rate of 11.3% for 7 years will be calculated using the compound interest rate, that is:
A=p(1+r/100)^n
where:
A=future amount
r=rate=11.3%=0.113
time=7 years
thus the future value of our cash will be:
A=845(1+0.113)^7
A=845(1.113)^7
A=$1,787.82