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Use the Formula for an Arithmetic Series

Series and Their Notations

Learning Objectives

In this section, you will:

  • Use summation notation.
  • Use the formula for the sum of the first n terms of an arithmetic series.
  • Use the formula for the sum of the first n terms of a geometric series.
  • Use the formula for the sum of an infinite geometric series.
  • Solve annuity problems.

A couple decides to start a college fund for their daughter. They plan to invest $50 in the fund each month. The fund pays 6% annual interest, compounded monthly. How much money will they have saved when their daughter is ready to start college in 6 years? In this section, we will learn how to answer this question. To do so, we need to consider the amount of money invested and the amount of interest earned.

Source: Rice University, https://openstax.org/books/college-algebra/pages/9-4-series-and-their-notations
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