In this chapter, we will explore the mathematics behind situations such as these. We will take an in-depth look at annuities. We will also look at the branch of mathematics that would allow us to calculate the number of ways to choose lottery numbers and the probability of winning.
- Section 7.2: Summation Notations
- The sum of the terms of a sequence is called a series. Summation notation is used to represent series. Summation notation is often known as sigma notation because it uses the Greek capital letter sigma, ∑, to represent the sum. Summation notation includes an explicit formula and specifies the first and last terms in the series. In this section, we will learn how to use series to address annuity problems.