At the beginning of every year, molly deposits $200 in a savings account that offers an interest rate of 20%, compounded annually. the total amount that molly will have in her account at the end of 3 years is $

find the sum of a finite geometric series.

a.The total amount that Molly will have in her account at the end of 3 years is $345.60

b. The sum of finite G.P series , when r<1

The sum of finite G.P series , when r>1

Step-by-step explanation:

Given

Molly deposits saving in her account= $200

Interest rate=20%

Time =3 years

Amount,A

Where P= principle value

r= Interest rate annually

t= time in years

A=Amount

P=$200

r=20%

t=3 years

Substitute all values in the given formula

A=

A=

A=

A=

A=345.6

Amount=$345.6

Hence, Molly will have total amount in her account at the end of 3 years is $345.6.

b. Let finite  G. P series

Total terms=n

Hence, common ratio=r

Sum of finite G.P series, when r>1

Sum of finite G.P series, when r<1.