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2 years ago

Evaluate the series 1 + 0.1 + 0.01 + . . . 21.111.120.33

Mathematics

2 answers:

Sonbull [250]2 years ago

4 0

The correct answer is 1.11

AURORKA [14]2 years ago

3 0

The answer to this is 1.11

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3 years ago

Your grandparents invested $2,000 for you on the day you were born. How much will this investment be worth on your 25th birthday

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We know that, Amount in Compound interest is given by :

$\bigstar \ \ \boxed{\sf{Amount = Principal\bigg(1 + \dfrac{Rate \ of \ Interest}{100}\bigg)^{Time \ Period}}}$

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Given : Annual yield is 5% and the interest is compounded quarterly

It means : Interest is compounded 4 times in a year

$\implies \sf{Rate \ of \ Interest = \dfrac{R}{4} = \dfrac{5}{4}}$

$\sf{\implies Time \ period = (25 \times 4) = 100}$

Substituting all the values in the formula, we get :

$\implies \sf{Amount = 2000\bigg(1 + \dfrac{\dfrac{5}{4}}{100}\bigg)^{100}}$

$\implies \sf{Amount = 2000\bigg(1 + \dfrac{5}{400}\bigg)^{100}}$

$\implies \sf{Amount = 2000\bigg(1 + \dfrac{1}{80}\bigg)^{100}}$

$\implies \sf{Amount = 2000\bigg(\dfrac{81}{80}\bigg)^{100}}$

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2 years ago