Examlex
Determine whether the infinite geometric series converges or diverges. If it converges, find its sum.
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Nearest 0.01%
Measurement or calculation precision to the hundredth of a percent.
Equivalent Interest Rate
The interest rate that gives the same compounded financial outcome as other rates calculated over different time periods.
Nearest 0.01%
Rounding off a numerical figure to the closest one hundredth of a percent.
Equivalent Interest Rate
A rate that provides the same accumulated interest as would be obtained from several other interest rates over a given time period.
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