An investment of $2000 is made at the start of a year with a Finace Company.At the end of this year and at the end of each subsequent year the value of the investment is 11% greater than its value at the start of that year.
a) Find,to the nearest $.the value of the investment at the end of
i) the 5th year
ii)the 10th year
A client decides to invest $2000 at the start of each year.Write down a series whose sum is the total value of this annual investment at the end of 12 years.
b) By finding the sum of your series,determine,to the nearest $, the value of the investment at the end of 12 years.
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- 19-05-2002 21:57