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November 24, 2014

November 24, 2014

Posted by **jojo** on Monday, December 3, 2012 at 8:06am.

use a table to slove this problem

what balance after 30 days?

what is the interest rate and number of periods for this?

what is a equstion for this also?

- math -
**Reiny**, Monday, December 3, 2012 at 9:18am1 + 2 + 4 + 8 + ... for 30 terms

a GS , where a = 1 , r = 2 ,n = 30

sum(30) = a(r^n - 1)/(r-1)

= 1(2^30 - 1)/1 = 1,073,741,823 pennies

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