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Each year, for 40 years, Anne will pay money into a savings scheme. In the first year she pays £500. Her payments then increase by £50 each year, so that she pays £550 in the second year, £600 in the third year, and so on.
(a) Find the amount that Anne will pay in the 40th year. (2)
A is the first term. D is the difference.
A=£500. D=£50 N=40
Un = a+(n-1)d This is the formula to find Nth term.
Un = 500+(n-1)50
= 500+50n-50
Un = 450+50n
U40 = 450+50(40)
U40 = £2450
(b) Find the total amount that Anne will pay in over the 40 years. (2)
Sn=n/2(2a+(n-1)d)
Sn=n/2(1000+(n-1)50
Sn=n/2(1000+50n-50
Sn=n/2(950+50n)
S40=40/2(950+50(40))
S40=£59000
Over the same 40 years, Brain will also pay money into the savings scheme. In the first year he
pays in £890 and his payments then increase by £d each year.
Given that Brian and Anne will pay in exactly the same amount over the 40 years.
c) Find the value OF d
First of all, read the question carefully
S40=59000
59000=40/2(1780+(40-1)d
118000=40(1780+(40-1)d
118000/40 = 1780+39d
2950 = 1780+39d
D = (950-1780)/39
D = 30
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