2. If jk is the rate of simple interest for the k-th period of time, wherek = 1, 2,..., n, show that the amount of interest earned from time 0 to time nis j₁ + 2 + +Jn, if an investment of 1 is made at time 0.

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Answered: 2. If j is the rate of simple interest…

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.7: Exponential And Logarithmic Models

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2. If j is the rate of simple interest for the k-th period of time, where k = 1,2,..., n, show that the amount of interest earned from time 0 to time n is j₁ + j2 + ... + jn, if an investment of 1 is made at time 0.