• Best of luck to the class of 2019 for their HSC exams. You got this!
    Let us know your thoughts on the HSC exams here
  • Like us on facebook here

Application of Geometric Series Problem (1 Viewer)

duckylah21

New Member
Joined
Aug 30, 2017
Messages
5
Gender
Female
HSC
2018
http://ibb.co/myefJ

I’m having trouble with Q3 and Q4.

Q3) I’ve done multiple tries like dividing her yearly $100 by 12 months and still can’t get the right answer. It is compounded monthly but she only invests once at the beginning of each year.

Q4) Got close to the answer.

Answers:
Q3) $5840.77
Q4) $9732.09 ($1177.26 + $8554.83)

Any help is greatly appreciated. Thank you!
 

integral95

Well-Known Member
Joined
Dec 16, 2012
Messages
753
Gender
Male
HSC
2013
http://ibb.co/myefJ

I’m having trouble with Q3 and Q4.

Q3) I’ve done multiple tries like dividing her yearly $100 by 12 months and still can’t get the right answer. It is compounded monthly but she only invests once at the beginning of each year.

Q4) Got close to the answer.

Answers:
Q3) $5840.77
Q4) $9732.09 ($1177.26 + $8554.83)

Any help is greatly appreciated. Thank you!
Yeah dividing that amount doesn't do anything

So for Q3 it goes like this, basically after every 12 months, $100 gets added into the account



You'll then notice this pattern continues until you reach 240 months (20 years), thus giving

 

ichila101

Split arrowhead
Joined
May 30, 2016
Messages
230
Location
In Australia
Gender
Male
HSC
2017
Uni Grad
2021
For q4),

and at the end of the third last line it reads (1.007)^53 sorry for the scribbles
 
Last edited:

Users Who Are Viewing This Thread (Users: 0, Guests: 1)

Top