Any help on this is much appreciated!
and assuming that this is a compound interest, then we can use
therefore, the middle part can be simplified (evaluated at ) as (verify) and together with the right hand side, we have or
Please do not double post. You question was first answered in the Business Math forum: http://www.mathhelpforum.com/math-he...-function.html
did you notice notice that your summation is just the sum of the first n geometric sequence.. i think, you must be the one to check your solution.. or the best way is to post your whole solution in here..
besides, if you will push your 14.5, try to work it backward, and you will derive at and not 2..
Thanks, I've got the answer. Do you mind if I ask a question though?
Why can I not just use this? Or at least, the answer doesn't turn out right, but I don't understand why.
exp(-ln(20 - 10)+ ln(20-1)) = exp (ln(19/10)) = 19/10
Did I make a mistake somewhere?
Another Possible Answer:
As it stands, we have 't' defined as the time from EACH deposit. That may not seem quite right. If we use 't' to mean the time from the beginning of the financial structure, we get:
Very interestingly, we get:
s(0) = 2.00
s(1) = 1.90
s(2) = 1.80
It IS an arithmetic sequence.