Any Mathematicians?

[Kirran]

Wasn't entirely sure where to put this!

But OK, a friend of mine who's doing her A Level Maths has come across this question which nobody seems able to solve. I'll give a Winner rating to whoever manages it! (So will other people, probably)

Let me know if it isn't legible.

 

[LuisDantas]

I fear it indeed isn't.

 

[Kilgore Trout]

I can't figure out the curve of the lens I need to grind in order to be able to read that.

 

[Kirran]

You're both so negative! OK, here -

 

[LuisDantas]

The first paragraph asks whether 6000 * (1.06) ^ 10 = 10745, which is indeed the case (if we disregard 8.61 cents).

I will need some effort to prepare the answer for the second item. Maybe someone will come and answer it first.

 

[Kirran]

The first paragraph asks whether 6000 * (1.06) ^ 10 = 10745, which is indeed the case (if we disregard 8.61 cents).

I will need some effort to prepare the answer for the second item. Maybe someone will come and answer it first.

I'm betting on you Luis!

 

[Tumah]

Any Mathematicians?

Yes.

 

[Tabu]

Going with the same formula for compound interest as above i.e
A = P(1+r) ^n , and applying it for the investments made between 1991 and 1995 , the total amount at the end of 2000 would be
6000( 1.06^10 + 1.06^ 9 +1.06^ 8 + 1.06^7+1.06^6 + 1.06 ^ 5 ) ,
which works out to 56007
see here Chegg.com

 

[icehorse]

Wasn't entirely sure where to put this!

But OK, a friend of mine who's doing her A Level Maths has come across this question which nobody seems able to solve. I'll give a Winner rating to whoever manages it! (So will other people, probably)

View attachment 16654

Let me know if it isn't legible.

I'm a bit confused. I'd have to go look up a formula or two, but this seems like a very mechanical problem, I'm not seeing any tricks or difficulties in here? Perhaps when the answer is given we can find out what was involved other than basic mechanics?