help pls D: (superannuation q, HSC 1984) (1 Viewer)

[smelnizzle]

they give me the answer and i cant do it.. too tragic!

On 1 Jan, 1957, a person joins a superannuation fund by investing $3000 at 9% p.a. compound interest. A similar amount is invested at the beginning of each subsequent year until the person retires on 31 Dec, 1984.

Show that the accumulated value of the investment at the date of retirement is $369406 (correct to the nearest dollar)

i dont know what i'm doing wrong. i get $335905 D:

 

[~caramello~]

Make sure you put 28 terms in the GP because its inclusive.

 

[smelnizzle]

Make sure you put 28 terms in the GP because its inclusive.

oooh! big duh.
thank you

 

[boxhunter91]

Make sure you put 28 terms in the GP because its inclusive.

A=3000 x 1.09 ((1.09^28-1)/(1.09-1))

 

[smelnizzle]

A=3000 x 1.09 ((1.09^28-1)/(1.09-1))

sweetness. thanks