# Proof of Sum of Geometric Series by Mathematical Induction

Considerations of Sum of Geometric Series The sum of geometric series is defined using r, the common ratio and n, the number of terms. The common could be any real numbers with some exceptions; the common ratio is 1 and 0. If the common ratio is 1, the series becomes the sum of constant numbers, […]

# Geometric Series for Time Payments

Time payments are calculated based on Geometric Series for reducible compound interests. Basically geometric series formula is used for handling this situation. Worked Examples of Geometric Series for Time Payments 1 John takes out a loan of $100 000$ on 1st January 2001 for a home loan. Interest is charged at 12 % per annum […]