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Track your progress across all skills in your objective. Mark your confidence level and identify areas to focus on.
Track your progress:
Don't know
Working on it
Confident
📖 = included in formula booklet • 🚫 = not in formula booklet
Track your progress:
Don't know
Working on it
Confident
📖 = included in formula booklet • 🚫 = not in formula booklet
Track your progress across all skills in your objective. Mark your confidence level and identify areas to focus on.
Track your progress:
Don't know
Working on it
Confident
📖 = included in formula booklet • 🚫 = not in formula booklet
Track your progress:
Don't know
Working on it
Confident
📖 = included in formula booklet • 🚫 = not in formula booklet
A sequence is arithmetic if the difference between consecutive terms is constant, ie ​un+1​−un​=d, the common difference, for all ​n. For example,
is arithmetic, but
is not since ​9−5=4î€ =5−2=3.
The ​nth​ term in an arithmetic sequence is given by
where ​u1​​ is the first term and ​d​ is the common difference.
A sequence is geometric if the ratio between consecutive terms is always constant, i.e.
We call ​r​ the common ratio.
For instance, the sequence
is geometric with ​r=41​, but
is not since ​69​=23â€‹î€ =2=36​.
The ​nth​ term of a geometric sequence is given by
where ​u1​​ is the first term and ​r​ is the common ratio.
The sum of terms in a sequence is called a series.
The sum of the first ​n​ terms in an arithmetic sequence is given by
or equivalently
As a shortcut for writing out long sums, we can use the symbol ​ ∑ ​​ with the following "settings":
Here ​n​ is called the index, but other letters can also be used in place of ​n.
For any series of the form ​k=1∑n​ak​​ and any integer ​m​ between ​1​ and ​n, we can split the series at the index ​m:
The sum of the first ​n​ terms in a geometric sequence is given by:
where ​FV​ is the future value, ​PV​ is the present value, ​n​ is the number of years, and ​r%​ is the annual depreciation rate of the item.
where ​FV​ is the future value, ​PV​ is the present value, ​n​ is the number of years, ​k​ is the number of compounding periods per year, and ​r%​ is the nominal annual rate of interest.
You should understand the meaning of each variable and know how to use your calculator's Finance/TVM Solver:
To solve for an unknown, move your calculator's cursor to the unfilled slot and press alpha ​→​ enter.
Be very careful if P/Y is different from C/Y. The letter N will always be the number of payment periods, or in other words the number of years times P/Y.
Whenever you use the Finance App (TVM Solver) on your calculator, it's critical that you enter and interpret the signs correctly:
When you receive money from a bank or savings account, that value is positive, because you're gaining money.
When you send money to a bank, that value is negative, because you're losing money.
The real interest rate (needed when a question involves inflation) is given by ​r%=c%−i%, where ​c%​ represents the given interest rate (the nominal rate) and ​i%​ represents the inflation rate.
Note: You can calculate the real interest rate ​r%​ and enter it directly into the TVM solver (when required) as the nominal annual interest rate (​I%​ on your calculator), since the TVM solver does not account for inflation effects in its standard calculations.