Question

Larry has taken out a loan for college. He started paying off the loan with a first payment of $150. Each month he pays, he wants to pay back 1.3 times as the amount he paid the month before. Explain to Larry how to represent his first 15 payments in sigma notation. Then explain how to find the sum of his first 15 payments, using complete sentences. Explain why this series is convergent or divergent.

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Answer 1

@mathmate @ganeshie8 @Loser66 @e.mccormick @eyust707 @Preetha @wolfe8 @iPwnBunnies @paki @ShadowLegendX @Joseph91 @Hero @ikatouni @ByteMe @Loujoelou @ltp1212 @paki @neer2890 @Passionateboyy14 @perl @Mathfinder2014 @mathstudent55

Answer 2

the series of payments can be written as

150* 1.3^0, 150*1.3, 150*1.3^2, 150* 1.3^3 .....

Answer 3

Sigma notation for the first 15 payments would be