Real-Life Math fun! Geometric Series, Compound Interest, Financial Maths I
This practical Real-Life Math exercise is perfect, as it shows students the real-World connection!
This fill-in tasks lets students calculate the future value of a $100 investment at the start of every month for one year. The future value of such an annuity of $100 is the real-life application of the sum of a geometric series. Compound Interest is the Real-Life application of Geometric Series.
Recurring investments (annuities) is a geometric series. The formula for the sum of a geometric series is therefore also the formula for the future value of an annuity. When students realize this, they never need to try to memorize two formulas. They also make the connection between the 2 sections of mathematics and realize that it is fact the same mathematics.
Arithmetic Sequences, Arithmetic Series, Geometric Sequences, Geometric Series, Compound Interest, Future Value, Present Value, Annuities, Sum of an Arithmetic Series, Sum of a Geometric Series.
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