Compound interest question on sequences and series (1 Viewer)

[lsdpoon1337]

From 2U fitzpatrick 11(e), Q 8 and 9

8. A man is receive six payments of $500 each, the first payment in a year's time and subsequent payments at two-yearly intevals. He invests each payment at 9% per annum. How much will he immediately have after the last payment is made?


9. What sum of money should be invested now to provide $2000 at the end of 10years, assuming interest at the rate of 8% per annum for the first 6 years and 10% per annum thereafter?


Thanks

 

[OHGLORIOUSBEANS]

My sister says she'll teach you if you join her in her bed.

You'll have to pay her in subsequent payments of $500 however.

 

[lyounamu]

From 2U fitzpatrick 11(e), Q 8 and 9

8. A man is receive six payments of $500 each, the first payment in a year's time and subsequent payments at two-yearly intevals. He invests each payment at 9% per annum. How much will he immediately have after the last payment is made?


9. What sum of money should be invested now to provide $2000 at the end of 10years, assuming interest at the rate of 8% per annum for the first 6 years and 10% per annum thereafter?


Thanks

8. A1 = 500 x 1.09
A2 = (500 x 1.09)1.09^2 + 500
A3 = ((500 x 1.09)1.09^2 + 500)1.09^2 +500
= 500 x 1.09^5 + 500 x 1.09^2 + 500
A4 = (500 x 1.09^5 + 500 x 1.09^2 + 500)1.09^2 + 500
= 500 x 1.09^7 + 500 x 1.09^4 + 500 x 1.09^2 + 500
so A6 = 500 x 1.09^11 + 500 x 1.09^8 + 500 x 1.09^6 +.... + 500

Q9 is very similar. Use my way of working to get it. TIP: Make sure you get the pattern right too. It's very important.

To above poster: That's just pathetic. Stop trolling in a serious forum.