two investors, sachi and nari, invest different amounts of money at the same time for an 8 year period. sachi invests $10 000 at 6% per year and her final amount is given by the formula A+10 000(1.06)^8. Nari is shrewder, and was only able to invest $8000 and end up with the same amount at the end. his final amount can be modelled using the equation A=8000(1+i)^8.

showing all of your work, determine the value of i for Nari and the yearly intrest rate his money to allow this to happen.

Question

two investors, sachi and nari, invest different amounts of money at the same time for an 8 year period. sachi invests $10 000 at 6% per year and her final amount is given by the formula A+10 000(1.06)^8. Nari is shrewder, and was only able to invest $8000 and end up with the same amount at the end. his final amount can be modelled using the equation A=8000(1+i)^8.

showing all of your work, determine the value of i for Nari and the yearly intrest rate his money to allow this to happen.

anonymous · Answer

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