1) What is the sum of: 1+2+3+4.............+1,000?
2)What is the sum of: 1+2+3+4.............+1,000, IF these numbers were dollars and your earned 1% interest compounded periodically(daily, weekly, monthly, annually.....etc.). The compounding period would have no effect on the final result.
3) What is the difference between the sums of the 2 series? Thanks for any help.
+2752 1) 1+2+3+4...+1000
You add one number with another number which will make 1000.
1+999=1000
2+998=1000
Ect.
Then add all the 1000's up and you will get 501 1000's therefore 1000*501=501000
2) You would gain 1%(to find 1 percent time the number of dollars($501000 dependable value) by 0.01 and add on to the value) per however long the period of time is
3) There is no difference apart from the percentage at the end of 2)
+2752 1) 1+2+3+4...+1000
You add one number with another number which will make 1000.
1+999=1000
2+998=1000
Ect.
Then add all the 1000's up and you will get 501 1000's therefore 1000*501=501000
2) You would gain 1%(to find 1 percent time the number of dollars($501000 dependable value) by 0.01 and add on to the value) per however long the period of time is
3) There is no difference apart from the percentage at the end of 2)
1) The sum of the first series is: [1,000 x 1,001] / 2=500,500.
2) The sum of the second series can be summed up using summation such as this one:
∑(n)(1.01)^(999-n), from n=0 to n=999, which =209,481,556.38. This summation maybe done on this calculator here, but I don't know how to use it. I summed it up on my computer. There is, however, a rather complicated financial formula that will do the same thing, but is a little more involved that the above summation.
3) The difference between them is rather large=209,481,556.38 - 500,500=208,981,056.38
