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Financial Question (1 Viewer)
- Thread starter kpad5991
- Start date
Can you attempt the question first.
STBAccuracy
Member
I'll give a hint for (a) and (b):
(a) Create an equation for the balance of the fund in terms of the initial value, interest rate and the award.
Do this for F1, F2... until you can identify a pattern with the balance (You should see a geometric progression), and make a general equation for the nth solution (Fn).
(b) Using the equation for the nth year (Fn) carefully expand the GP until you get Fn to equal RHS.
(a) Create an equation for the balance of the fund in terms of the initial value, interest rate and the award.
Do this for F1, F2... until you can identify a pattern with the balance (You should see a geometric progression), and make a general equation for the nth solution (Fn).
(b) Using the equation for the nth year (Fn) carefully expand the GP until you get Fn to equal RHS.