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Need help with geometric series Watch

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    Name:  1455124318092-391350151.jpg
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Size:  269.1 KB can anyone explain this part of the solution? Attachment 502445502447 I don't get why it's 2000*1.04*(1.04^10-1) thanks
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    Zacken
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    (Original post by coconut64)
    Name:  1455124318092-391350151.jpg
Views: 76
Size:  269.1 KB can anyone explain this part of the solution? Attachment 502445502447 I don't get why it's 2000*1.04*(1.04^10-1) thanks
    First term is 2000 * 1.04. Then plug into the geometric series formula.
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    (Original post by Zacken)
    First term is 2000 * 1.04. Then plug into the geometric series formula.
    Isn't a=2000 and ar =2000*1.04?
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    (Original post by coconut64)
    Isn't a=2000 and ar =2000*1.04?
    Not in this context, which is really annoying. In this context we're talking about the "end of the year" so a = 2000 * 1.04, although I will admit I haven't looked at the question too heavily
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    (Original post by Zacken)
    Not in this context, which is really annoying. In this context we're talking about the "end of the year" so a = 2000 * 1.04, although I will admit I haven't looked at the question too heavily
    Oh okay. I guess that makes sense then. Thanks
 
 
 
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