Recent content by sparater

I understand that this would be a geometric series problem along with compounding. I have : Sum from 0 to infinity of (.465(100*.535^n))

Thanks for the quick reply! I am unsure how to start the problem. I don't know what equation and what variables to use!

4. In 1950, Family A borrowed 100 grams of gold from Family B with an interest (in gold) of 7%, compounded annually at the end of the year. Every January 1st, Family A pays o half of what it owes Family B. (a) How much gold will Family A eventually give back to Family B? (b) How much gold was...