Deriving/Applying the Geometric Series Formula
Algebra · Flashcards · Recall
ALGEBRA · FLASHCARDS
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QUESTION
For a loan, what is the common ratio
r
r
r
in the present value geometric series of discounted payments?
QUESTION
What is the sum of the first
n
n
n
terms if
r
=
1
r=1
r
=
1
and first term is
a
1
a_1
a
1
?
QUESTION
Convert an annual interest rate
R
R
R
compounded monthly to periodic rate
i
i
i
. What is
i
i
i
?
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ANSWER
i
=
R
12
i=\frac{R}{12}
i
=
12
R
. Divide annual rate by 12 for monthly compounding.
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