Find the balance of an increasing annuity in which a principal of $50 is deposited at the beginning of each month for 25 years. Assume that the amount is compounded monthly at 8%.

I'm doing sequences and sums, in honors pre-calc (:

Question

Find the balance of an increasing annuity in which a principal of $50 is deposited at the beginning of each month for 25 years. Assume that the amount is compounded monthly at 8%.

I'm doing sequences and sums, in honors pre-calc (:

sissyedgar · Answer

KitKat... do u go 2 K12? cause ur nickname sound familiar!

anonymous · Answer

I don't haha, maybe someone else uses my user!

sissyedgar · Answer

o, ok... cause I got a friend in K12 who every1 calles KitKat!

anonymous · Answer

Oh thats cool!

undeadknight26 · Answer

Honors Pre-calc?  Bahhaa @sissyedgar You got this or you want me to take over?

sissyedgar · Answer

o yea, i forgot 2 help with the question! :P lemme c!

anonymous · Answer

$$\sum_{n=1}^{300} 50n$$  then what do i do with the compounding?

undeadknight26 · Answer

Holy ****...nvm i was thinking of doing something else ._.
*slowly walks away*

sissyedgar · Answer

.............

anonymous · Answer

yeah hahah thats what i need to use

anonymous · Answer

i know the answer, its in the back, i just dont know how to get there

anonymous · Answer

$47868.33

sissyedgar · Answer

uh, ill call back up! :P

sissyedgar · Answer

my friend is AWESOME!!!!

sissyedgar · Answer

@sammixboo

undeadknight26 · Answer

According to this that answer is wrong...Or maybe its just this thing thats wrong?

undeadknight26 · Answer

http://www.wolframalpha.com/input/?i=%5Csum+_%7Bn%3D1%7D%5E%7B300%7D%5Cleft%2850n%5Cright%29

anonymous · Answer

yeah what i typed didnt account for the compounded monthly at 8% part

undeadknight26 · Answer

Oh makes sense