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 a finite arithmetic series
the sum of a finite arithmetic series
the sum of an infinite arithmetic series
the sum of an infinite arithmetic 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 a finite arithmetic series
the sum of a finite arithmetic series
the sum of an infinite arithmetic series
the sum of an infinite arithmetic series
the sum of an infinite geometric series
Answers
GPT-4o mini
The correct response is:
**the sum of a finite geometric series**
The future value of an annuity can be calculated using the formula derived from the sum of a finite geometric series, as it involves fixed payments made at regular intervals that grow at a certain interest rate.
**the sum of a finite geometric series**
The future value of an annuity can be calculated using the formula derived from the sum of a finite geometric series, as it involves fixed payments made at regular intervals that grow at a certain interest rate.