To prove: The amount that must invest today to cover the
Explanation of Solution
Given information:
Calculation:
Let
Therefore, the required amount that must invest today to cover the
To find: The construct an infinite series.
Answer to Problem 65RE
The answer:
Explanation of Solution
Given information:
Calculation:
To cover the payment of the first year. Must invest,
To cover the payment of the second year. must invest,
In general, must invest,
To cover the payment of the
Since the series contains all of the payments in perpetuity as a result of the preceding step, the series is:
Therefore, the required construct an infinite series is:
To find: Whether the series converges and the sum and find its represent.
Answer to Problem 65RE
The answer: The series converges and its sum is
Explanation of Solution
Given information:
Calculation:
In part
It converges and its sum is:
Invest the amount determined in the previous step in order to finance all payments for perpetuity.
Therefore, the required series converges and its sum is
Chapter 9 Solutions
CALCULUS:GRAPHICAL,...,AP ED.-W/ACCESS
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