financial help (1 Viewer)

[user18181818]

Hi can someone please help idk where they got the 150 000 from

 

[AsuTeksu]

I'm getting a value of 140000 instead of 150000, where is this question from?

 

[user18181818]

I'm getting a value of 140000 instead of 150000, where is this question from?

Matrix
How are u getting 140 000?

 

[AsuTeksu]

Matrix
How are u getting 140 000?

A0 = P
A1 = P(1.005) - 750
A2 = A1(1.005) - 750
= [P(1.005) - 750](1.005) - 750
= P(1.005)^2 - 750(1.005) - 750
= P(1.005)^2 - 750(1 + 1.005)

We can see that the power of P(1.005) is just the month, so then, P(1.005)^n

We can also see that there is a GP with 750(1 + 1.005) where a = 1, r = 1.005

An = P(1.005)^n - 750(((1.005^n)-1)/0.005)

^ If you simplify the fraction on the RHS, 750/0.005 = 140000

An = P(1.005)^n - 140000((1.005^n)-1)
= P(1.005)^n - 140000(1.005)^n + 140000

Unless I'm doing something wrong, is it possible that there is a typo in the question?

 

[user18181818]

Oh wait I get it now
750/0.005 is 150 000

 

[AsuTeksu]

Oh wait I get it now
750/0.005 is 150 000

Oh my lord, my calculator is broken,,,, it gives me 140000

 

[AsuTeksu]

Just replace my 140000 with your 150000 and it should be all good