Express the Sum Using Summation Notation $\mathrm { n }$ , Where

question 234

Multiple Choice

Express the sum using summation notation. Use a lower limit of summation not necessarily 1 and k for the index of summation.
-The bar graph below shows a company's yearly profits from 1991 to 1999. Let an represent the company's profit, in millions, in year $\mathrm { n }$ , where $\mathrm { n } = 1$ corresponds to $1991 , \mathrm { n } = 2$ corresponds to 1992 , and so on.
Find $\sum _ { i = 3 } ^ { 7 } a _ { i }$

• A) \$356.9 million
• B) \$400.7 million
• C) \(\$ 142.6\) million
• D) \(\$ 371.3\) million

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Definitions:

Annuity

An investment vehicle providing a constant flow of payments to the owner, usually utilised as a source of income for retired people.

Net Cash Flow

The variance between the cash coming into and going out of a business within a set timeframe.

Compound Interest

The calculation of interest on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan.

Present Value

The current worth of a future sum of money or stream of cash flows, given a specified rate of return, reflecting the time value of money.