(b) At the start of the month, a customer owes a credit card S1000.00 In the middle of the month, the customer pays company SP to the company, where P 1000.00 and at the end of the R 3% of the month, the company adds interest at the rate, amount still owing. This process is repeated in each subsequent month. of (i) Find the value of P for which the customer owes $1000.00 at the start of every month. (ii) Find the value of P for which the whole amount is paid off after the second payment. 4 (iii)Assuming that the debt has not been paid after payments, show that the amount still owing at the beginning PR(R* – 1) R-1 S 1000R* R=1.03 of the 5th month can be expressed as (iv) Show that the value of P for which the whole amount owing is exactly paid off after the th payment is given by P
(b) At the start of the month, a customer owes a credit card S1000.00 In the middle of the month, the customer pays company SP to the company, where P 1000.00 and at the end of the R 3% of the month, the company adds interest at the rate, amount still owing. This process is repeated in each subsequent month. of (i) Find the value of P for which the customer owes $1000.00 at the start of every month. (ii) Find the value of P for which the whole amount is paid off after the second payment. 4 (iii)Assuming that the debt has not been paid after payments, show that the amount still owing at the beginning PR(R* – 1) R-1 S 1000R* R=1.03 of the 5th month can be expressed as (iv) Show that the value of P for which the whole amount owing is exactly paid off after the th payment is given by P
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Hi, Can i get some help with the question below please
![(b)
At the start of the month, a customer owes
a credit card
$1000.00
company
In the middle of the month, the customer pays
SP
P
to the company, where
1000.00
and at the end of the
3%
of the
month, the company adds interest at the rate, R
amount still owing. This process is repeated in each subsequent
nonth.
(i)
P
Find the value of
for which the customer owes
$1000.00
at the start of every month.
(ii) Find the value of P for which the whole amount is
paid off after the second payment.
4
(iii)Assuming that the debt has not been paid after
payments, show that the amount still owing at the
beginning
s/1000R" PRCR*–D]
S 1000R
R=1.03
R-1
of the
5th
month can be expressed as
(iv) Show that the value of P for which the whole amount
owing is exactly paid off after the
th
payment is given
P
by](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6832ed8d-eaa7-4145-a39a-c6d2bb945a6b%2F02f53846-1eaa-46e5-bf72-55da73211e37%2Fkmvinzn_processed.png&w=3840&q=75)
Transcribed Image Text:(b)
At the start of the month, a customer owes
a credit card
$1000.00
company
In the middle of the month, the customer pays
SP
P
to the company, where
1000.00
and at the end of the
3%
of the
month, the company adds interest at the rate, R
amount still owing. This process is repeated in each subsequent
nonth.
(i)
P
Find the value of
for which the customer owes
$1000.00
at the start of every month.
(ii) Find the value of P for which the whole amount is
paid off after the second payment.
4
(iii)Assuming that the debt has not been paid after
payments, show that the amount still owing at the
beginning
s/1000R" PRCR*–D]
S 1000R
R=1.03
R-1
of the
5th
month can be expressed as
(iv) Show that the value of P for which the whole amount
owing is exactly paid off after the
th
payment is given
P
by
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