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Question 10
A geometric series has first term $a$ and common ratio $r$. Prove that the sum of the first $n$ terms of the series is \[ S_n = \frac{a(1 - r^n)}{1 - r} \] (4) Mr ... show full transcript
Step 1
Answer
To find the sum of the first n terms of a geometric series, we can denote the series as:
[ S_n = a + ar + ar^2 + ... + ar^{n-1} ]
Multiplying the series by the common ratio gives:
[ S_n r = ar + ar^2 + ar^3 + ... + ar^n ]
Subtracting these two equations, we get:
[ S_n (1 - r) = a - ar^n ]
Therefore, by rearranging, we find:
[ S_n = \frac{a(1 - r^n)}{1 - r} ]
This completes the proof.
Step 2
Answer
Mr King’s salary in 2005 is £35,000 and it increases by 4% each year. The salary for any year can be modeled by the formula:
[ S_n = 35000 \times (1.04)^{n-1} ]
For 2008, which is the 4th year, we find:
[ S_4 = 35000 \times (1.04)^3 \approx 35000 \times 1.124864 = 39440.24 ]
Rounding to the nearest £100, Mr King’s salary in 2008 is approximately £39,400.
Step 3
Answer
The total salary from 2005 to 2024 spans 20 years. This can be calculated as:
[ S_{20} = 35000 \times \frac{1 - (1.04)^{20}}{1 - 1.04} ]
Calculating the expression:
[
S_{20} = 35000 \times \frac{1 - (1.04)^{20}}{-0.04} = 35000 \times \frac{1 - 2.208040279}{-0.04}
= 35000 \times \frac{-1.208040279}{-0.04} \approx 35000 \times 30.201
]
The total salary is approximately £1,057,035, which rounds to approximately £1,000,000 when rounded to the nearest £1,000.
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