sequences questions (1 Viewer)

[stressedadfff]

hey guys can someone explain the following, i dont get it

 

[username_2]

hey guys can someone explain the following, i dont get it
View attachment 32416

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.

 

[CM_Tutor]

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

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And you seek year , being the smallest value of satisfying the equation ... So, in year 24 or after 23 full years.