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Thatonegirl_

  • one year ago

yo can someone help me?

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  1. Unofficialllyy
    • one year ago
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    What do you need help with?

  2. Thatonegirl_
    • one year ago
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    A sequence of yearly payments of $6000 is invested at an interest rate of 5.2%, compounded annually. What is the total amount of the annuity after 10 years?

  3. Unofficialllyy
    • one year ago
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    Which class is this for?

  4. Thatonegirl_
    • one year ago
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    Algebra 2

  5. anonymous
    • one year ago
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    do you know the compound interest formula?

  6. Thatonegirl_
    • one year ago
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    yea i've used it and got like 9961 but all of my answer choices are around 70,000..

  7. anonymous
    • one year ago
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    can you show what you did?

  8. Thatonegirl_
    • one year ago
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    6000(1.052)^10

  9. Thatonegirl_
    • one year ago
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    But we're learning about series and summations, not compound formulas.

  10. anonymous
    • one year ago
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    ok. I got you. so you want the sum of the geometric series where a1 = 6000, r = 1.052, and n = 10

  11. Thatonegirl_
    • one year ago
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    yep

  12. anonymous
    • one year ago
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    |dw:1433472146156:dw|

  13. Thatonegirl_
    • one year ago
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    Ohhh i got it!

  14. Thatonegirl_
    • one year ago
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    Yes thank you!! :)

  15. Thatonegirl_
    • one year ago
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    76,175.6

  16. anonymous
    • one year ago
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    you're welcome

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spraguer (Moderator)
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