3 years ago

How much will a saver earn in 10 years on a $100 deposit that earns 5% compound interest (compound annually)?

Mathematics

1 answer:

andrezito [222]3 years ago

4 0

They will earn $50 within ten years because the 5% gives five dollars a year for 10 years

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Read 2 more answers

Which series represents this situation? 1+1*7+1*7^ 2 +...1*7^ 6; 1+1*7+1*7^ 2 +...1*7^ 7; 7+1*7+1*7^ 2 +... 1*7^ 6; 7+1*7+1*7^ 2

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Answer:

Step-by-step explanation:

The series is missing from the question. I will answer this question with a general explanation by using the following similar series:

$\sum\limits^6_{n=0} 7^n$

Required

The series

To do this, we simply replace n with the values

$\sum\limits^6_{n=0}$ means n starts from 0 and ends at 6

$\sum$ means the series is a summation series

So, we have:

$\sum\limits^6_{n=0} 7^n = 7^0 + 7^1 + 7^2 + ...... + 7^6$

$\sum\limits^6_{n=0} 7^n = 1 + 7 + 7^2 + ...... + 7^6$

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