Geometric Series (investment problem) : ExamSolutions

[smokeeeeeeeee]

This is insignificant but inequality sign should be 'greater than' not 'greater than or equal to'.

[STaRzxEyEz]

So when do you use the rule of for example 500(1.035)^n rule ?

[ExamSolutions]

@STaRzxEyEz If you are not adding more money to the account at the end of each year other than the interest.

[nabbznashia16]

is this in statistics or c2 ?

sorri i cant remember theyre all simular 2 me

[ExamSolutions]

@nabbznashia16 C2

[Tony434343]

u r amazing =) thank you really help me !!! ^^ Compound interest is so annoying =(

[ExamSolutions]

Thanks - Pleased I could help

[TheSllabster]

Shouldn't all the 500 pounds be multiplied by 1.35 instead of 1.035? Sorry my maths isn't that good

[TheSllabster]

Sorry my bad! Was a little sleepy

[DryBones111]

@TheSllabster lol, if it's not that good then don't try to correct the person teaching you. But no it's supposed to be 1.035..think of percent. 100%=1 , +50%=1.5 , +35%=1.35 , + 3.5%=1.035