Each year, for 40 years, Anne will pay money into a savings scheme. In the first year
Question:
Each year, for 40 years, Anne will pay money into a savings scheme. In the first year she pays in £500. Her payments then increase by £50 each year, so that she pays in £550 in the second year, £600 in the third year, and so on.
a. Find the amount that Anne will pay in the 40th year.
b. Find the total amount that Anne will pay in over the 40 years.
c. Over the same 40 years, Brian will also pay money into the savings scheme. In the first year he pays in £890 and his payments then increase by £d each year. Given that Brian and Anne will pay in exactly the same amount over the 40 years, find the value of d.
Step by Step Answer:
Pearson Edexcel A Level Mathematics Pure Mathematics Year 2
ISBN: 9781292183404
1st Edition
Authors: Greg Attwood, Jack Barraclough, Ian Bettison, David Goldberg, Alistair Macpherson, Joe Petran