My Math Forum Geometric Sequence

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 April 6th, 2015, 09:50 AM #1 Member   Joined: Mar 2015 From: KY Posts: 35 Thanks: 1 Geometric Sequence Stuck on another one, I don't know what I'm doing wrong. I follow the formula and cannot get the right answer.
 April 6th, 2015, 10:09 AM #2 Member   Joined: Mar 2015 From: KY Posts: 35 Thanks: 1 The answer I keep getting that I think is right is $34,440. But it says it's wrong.  April 6th, 2015, 10:10 AM #3 Global Moderator Joined: Nov 2006 From: UTC -5 Posts: 16,046 Thanks: 938 Math Focus: Number theory, computational mathematics, combinatorics, FOM, symbolic logic, TCS, algorithms What formula did you follow? What calculation did you make?  April 6th, 2015, 10:37 AM #4 Member Joined: Mar 2015 From: KY Posts: 35 Thanks: 1 I used this one  April 6th, 2015, 12:28 PM #5 Global Moderator Joined: May 2007 Posts: 6,806 Thanks: 716 What values did you use for r, n, and a1?  April 6th, 2015, 02:02 PM #6 Member Joined: Mar 2015 From: KY Posts: 35 Thanks: 1 I used: a1=3075 r=1.025 n=10  April 7th, 2015, 05:17 AM #7 Member Joined: Mar 2015 From: KY Posts: 35 Thanks: 1 Any more help?  April 7th, 2015, 06:52 AM #8 Math Team Joined: Jul 2011 From: Texas Posts: 3,002 Thanks: 1587 did you try the hint that was given?$\displaystyle 3000(1.025)^{10}+3000(1.025)^9+3000(1.025)^8+ ... +3000(1.025) = \displaystyle 3000\sum_{n=1}^{10} 1.025^n =\displaystyle 3000 \cdot \frac{1.025(1-1.025^{10})}{1-1.025}$ April 7th, 2015, 07:13 AM #9 Member Joined: Mar 2015 From: KY Posts: 35 Thanks: 1 This was getting me the same answer that I was getting: \$34,440. But when I worked it out individually for each year I got \\$34,450 which is the right answer. Not sure where the issue is... rounding maybe? Last edited by skipjack; April 7th, 2015 at 01:12 PM.
 April 7th, 2015, 07:27 AM #10 Math Team     Joined: Jul 2011 From: Texas Posts: 3,002 Thanks: 1587 I got 34450.40 using the formula I posted ...

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