Mathematical Methods in the Physical Sciences · Problem 1.13

INFINITE SERIES, POWER SERIES — Mary Boas

Mathematics — Methods · geometric-series

Problem

If you invest a dollar at ``6\% interest compounded monthly,'' it amounts to (1.005)n(1.005)^n dollars after nn months. If you invest \$10 at the beginning of each month for 10 years (120 months), how much will you have at the end of the 10 years?

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