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Kyle invests some money in a simple savings fund and the amount increases at a constant rate over time. He hopes to buy a boat
Kyle invests some money in a simple savings fund and the amount increases at a constant rate over
time. He hopes to buy a boat when the investment amount reaches $20 000.
After 3 years the amount is $16 500 and after 6 years the amount is $18 000.
a Find a rule linking the investment amount ($A) and time (t years).
b How much did Kyle invest initially (i.e. when t = 0)?
c How long does Kyle have to wait before he can buy his boat?
d What would be the value of the investment after 12 years?
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