stressedadfff
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hey guys can someone explain the following, i dont get it
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sequences questions (1 Viewer)
- Thread starter stressedadfff
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username_2
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This is a compound interest question. So use the formula in the form A/P = (1+r)^t, where r = 0.14, A/P = 20. -> Solve this eqn and you should be good.
Last edited:
You can also treat it as a sequence and series problem, with the profit in the first year being 
and the common ratio being 
so that you have a sequence of profits in successive years of
And you seek year
, being the smallest value of satisfying the equation 
... So, in year 24 or after 23 full years.
And you seek year