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Geometric Series - Problem 4

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Teacher/Instructor Alissa Fong
Alissa Fong

MA, Stanford University
Teaching in the San Francisco Bay Area

Alissa is currently a teacher in the San Francisco Bay Area and Brightstorm users love her clear, concise explanations of tough concepts

Sometimes when people have bank accounts, they deposit one lump amount and leave it. Others deposit a fixed amount every year- and that is the case we look at here in "repeated investment" problems. The first term in your sequence should be the amount of money in the account after the first year's interest is paid. From there, use the interest rate, r, as a decimal and n as the number of years to find the total sum of money in the account after a certain amount of time.

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