Question

Find the value of the geometric series
1000 + 1000(1.03) + 1000(1.03)2 + . . . + 1000(1.03)9​

Answer 1

To find the value of the given geometric series, we can use the formula for the sum of a geometric series.

Step-by-step explanation:

In order to find the value of the geometric series, we can use the formula for the sum of a geometric series:

S = a imes \frac{1 - r^n}{1 - r}

where:

• S is the sum of the series
• a is the first term
• r is the common ratio
• n is the number of terms

In this case, the first term is 1000, the common ratio is 1.03, and the number of terms is 10. Plugging these values into the formula, we get:

S = 1000 imes \frac{1 - 1.03^{10}}{1 - 1.03}

Calculating the value of S gives us:

S = 1000 imes \frac{1 - 1.344117649}{0.03}

S = 922.00

Answer 2

`\boxed{\sf \ \ \ 11,464 \ \ \ }`

Step-by-step explanation:

hello

we need to compute the following

`\sum\limits^9_(i=0) {1000(1.03)^i}=1000(1.03^(10)-1)/(1.03-1)=11463.879...`

hope this helps