Anne, over 40 years,payed £61450 into a savings scheme.
Over the same 40 years, Brain also pays into a savings scheme. In the first year he pays in £890 and his payments then increase by £d each year.
Given that Brain and Anne will pay in exactly the same amount over the 40 years,
find the value of d.
Over the same 40 years, Brain also pays into a savings scheme. In the first year he pays in £890 and his payments then increase by £d each year.
Given that Brain and Anne will pay in exactly the same amount over the 40 years,
find the value of d.
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61450 - 890 divided by 39 years = 1552
1552 take 809 to find out the increase from the first payment = 662
d = 662
1552 take 809 to find out the increase from the first payment = 662
d = 662
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61450=(40/2)*(2*890+(40-1)*d)
from here find the value of d
from here find the value of d
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1678686776