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OpenStudy (chrishogan):
Would you like my help again? :)
OpenStudy (yuii):
Please.
OpenStudy (chrishogan):
So 100 is our starting value, we get a general increase each month, a multiplier. So it's increase 1.5 EACH month so second month he'll earn \[$100*1.5=$150\]
OpenStudy (chrishogan):
So that means
Month|Balance
1 | $100(1.5)=150
2 | $150(1.5)=225
3 | $225(1.5)=???
4 | $???(1.5)=???
5 | $???(1.5)=???
OpenStudy (yuii):
The third one is 337.5
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OpenStudy (chrishogan):
Correct.
OpenStudy (yuii):
So it's 337.5?
OpenStudy (chrishogan):
Nope nope, We're trying to find the 5th month, not the 3rd.
OpenStudy (yuii):
Oh right, sorry.
OpenStudy (chrishogan):
An easier way to do this is set up our equation. a=amount m=months untill goal \[a(m)=$100*1.5^{m}\] which equals \[a(4)=$100*1.5^{(4)}\]\[a(4)=$100*5.0625\]\[a(4)=$506.25\]
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