Approximating the Sum of an Alternating Series In Exercises 31-34, approximate the sum of the series by using the first six terms. (See Example 4.) ∑ n = 1 ∞ ( − 1 ) n + 1 2 n 3
Approximating the Sum of an Alternating Series In Exercises 31-34, approximate the sum of the series by using the first six terms. (See Example 4.) ∑ n = 1 ∞ ( − 1 ) n + 1 2 n 3
Solution Summary: The author calculates the approximate sum of the series by using the first six terms.
Find the present value of $20,000 due in 3 years at the given rate of interest. (Round your answers to the nearest cent.)
(a) 2%/year compounded monthly
(b) 5%/year compounded daily
$
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TANAPCALC10 5.3.009.
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PRACTICE ANC
Find the accumulated amount after 3 years if $4000 is invested at 3%/year compounded continuously. (Round your answer to the nearest cent.)
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Find the effective rate corresponding to the given nominal rate. (Round your answers to three decimal places.)
(a) 9.5%/year compounded monthly
%
(b) 9.5%/year compounded daily
%
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TANAPCALC10 5.3.007.
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Find the present value of $90,000 due in 7 years at the given rate of interest. (Round your answers to the nearest cent.)
(a) 9%/year compounded semiannually
(b) 9%/year compounded quarterly
LA
Find the accumulated amount A, if the principal P is invested at an interest rate of r per year for t years. (Round your answer to the nearest cent.)
P = $160,000, r = 7%, t = 4, compounded daily
A = $211113.60
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--/6.66 Points]
DETAILS
MY NOTES
TANAPCALC10 5.3.005.
Find the effective rate corresponding to the given nominal rate. (Round your answers to three decimal places.)
(a) 8%/year compounded semiannually
%
(b) 9%/year compounded quarterly
%
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