Precalculus (6th Edition) Blitzer

Published by Pearson
ISBN 10: 0-13446-914-3
ISBN 13: 978-0-13446-914-0

Chapter 10 - Section 10.3 - Geoetric Sequences and Series - Concept and Vocabulary Check - Page 1073: 4


A sequence of equal payments made at equal time periods is called an annuity. Its value, A, after t years is given by the formula $ A=\frac{P\left[ {{\left( 1+\frac{r}{n} \right)}^{nt}}-1 \right]}{\frac{r}{n}}$, where P is the deposit made at the end of each compounding period at r percent annual interest compounded n times per year.

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