Question
Which formula can be adapted to calculate the future value of an annuity?(1 point)
Responses
the sum of a finite geometric series
the sum of a finite geometric series
the sum of an infinite arithmetic series
the sum of an infinite arithmetic series
the sum of a finite arithmetic series
the sum of a finite arithmetic series
the sum of an infinite geometric series
the sum of an infinite geometric series
Responses
the sum of a finite geometric series
the sum of a finite geometric series
the sum of an infinite arithmetic series
the sum of an infinite arithmetic series
the sum of a finite arithmetic series
the sum of a finite arithmetic series
the sum of an infinite geometric series
the sum of an infinite geometric series
Answers
GPT-4o mini
The correct response is:
**the sum of a finite geometric series**
This is because the future value of an annuity involves calculating the sum of periodic payments (annuities) that grow at a specific interest rate, which is similar to a finite geometric series.
**the sum of a finite geometric series**
This is because the future value of an annuity involves calculating the sum of periodic payments (annuities) that grow at a specific interest rate, which is similar to a finite geometric series.