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Mathematics, 27.10.2019 19:43 juicemankinnie95
So, i am pretty new at a subject called "applied mathematics in economics" so take me easy : d
i have this problem:
to provide for future education costs a family considers various methods of saving. assuming that the saving lasts 10 years at an interest rate of 7,5%/year
a) calculate the value of the fund after 10 years when a single deposit of 2000£ is made annualy
b) how much should be deposited each year if the final value is 4£
c) how much should be deposited each month if the final value is 4£
the only formula i know is sn = s₀*(1+i)ⁿ but i don't think that this is applicable here?
in advance and i am really sorry if it's very easy but i just don't understand
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You know the right answer?
So, i am pretty new at a subject called "applied mathematics in economics" so take me easy : d
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