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    paper
    https://b940eb267c31463d4d23ccfd3105...%20Edexcel.pdf
    answers
    https://b940eb267c31463d4d23ccfd3105...%20Edexcel.pdf
    Question 8 part b
    i don't understand why a=1.06

    Edit:actually the title may wanted to be changed O.O i don't know how to do that either xD
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    (Original post by thefatone)
    paper
    https://b940eb267c31463d4d23ccfd3105...%20Edexcel.pdf
    answers
    https://b940eb267c31463d4d23ccfd3105...%20Edexcel.pdf
    Question 8 part b
    i don't understand why a=1.06

    Edit:actually the title may wanted to be changed O.O i don't know how to do that either xD
    The first term is 1.06 in the brackets? That's what a is? The first term?
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    (Original post by LastMinReviseGuy)
    You know how you times a value by 1, which gives you 100%. That 1.06 is basically adding 6 % of the a to A.
    (Original post by Zacken)
    The first term is 1.06 in the brackets? That's what a is? The first term?
    no not the 1.06^8

    the 1.06 which is outside the bracket on the top just behind the 1.06^8

    I'm sure the first term is £500

    Edit:never mind i got it
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    (Original post by thefatone)
    no not the 1.06^8

    the 1.06 which is outside the bracket on the top just behind the 1.06^8

    I'm sure the first term is £500
    You have: 500(1.06 + \cdots + 1.06^8) . You sum up the bit inside the brackets only. You ignore the 500 for the moment, sum the bit inside the brackets which is a geometric series with first term 1.06 and then multiply the sum by 500. But for the moment, you are only summing the bit inside the brackets and ignoring the factor of 500, you'll multiply that in later.
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    (Original post by Zacken)
    You have: 500(1.06 + \cdots + 1.06^8) . You sum up the bit inside the brackets only. You ignore the 500 for the moment, sum the bit inside the brackets which is a geometric series with first term 1.06 and then multiply the sum by 500. But for the moment, you are only summing the bit inside the brackets and ignoring the factor of 500, you'll multiply that in later.
    Right got that bit sorted but how do i go about doing part c???
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    500(1.06) = a
    2nd would be 500(1.06+1.06^2)

    a is 500(1.06)
    Dunno why it says 1.06.

    Need to go over logs again.
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    (Original post by LastMinReviseGuy)
    500(1.06) = a
    2nd would be 500(1.06+1.06^2)

    a is 500(1.06)
    Dunno why it says 1.06.

    Need to go over logs again.
    See my post.
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    So r=1.06
    and a also =1.06

    ?
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    (Original post by thefatone)
    Right got that bit sorted but how do i go about doing part c???
    By thinking. It's literally the same as the previous part with different numbers.
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    (Original post by Zacken)
    By thinking. It's literally the same as the previous part with different numbers.
    so i just do this then?

    \dfrac{500\times1.005[1.005^8 -1]}{1.005-1}???
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    (Original post by thefatone)
    so i just do this then?

    \dfrac{500\times1.005[1.005^8 -1]}{1.005-1}???
    No.
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    (Original post by Zacken)
    No.
    i'm not sure i understand what i'm supposed to do, surely i just do what i said above and i'll get the new sum of the money with the new interest?
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    (Original post by thefatone)
    i'm not sure i understand what i'm supposed to do, surely i just do what i said above and i'll get the new sum of the money with the new interest?
    Read the question. It says monthly.
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    (Original post by Zacken)
    Read the question. It says monthly.
    i see o.o, another of my many weaknesses
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    (Original post by Zacken)
    Read the question. It says monthly.
    right so 500\times \left(1.005\right)^{12}

    then use this value and plug it back into the formula?
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    (Original post by thefatone)
    right so 500\times \left(1.005\right)^{12}

    then use this value and plug it back into the formula?
    Something like that, yeah. Check if the 500 * should still be there or not.
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    (Original post by Zacken)
    Something like that, yeah. Check if the 500 * should still be there or not.
    of course it will the first term is 500x*new ratio*
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    (Original post by thefatone)
    of course it will the first term is 500x*new ratio*
    Okay, yeah. Do you get the answer?
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    (Original post by Zacken)
    Okay, yeah. Do you get the answer?
    Yup it's same as the mark scheme's
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    (Original post by thefatone)
    Yup it's same as the mark scheme's
    Awesome.
 
 
 
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