Camerontocher
New member
- Joined
- Apr 21, 2015
- Messages
- 11
The question reads, FuelSys expects returns of their sale of oil to increase at a rate of 8% per year. For an initial investment of £2million, determine
a) the value of their oil sales after 10 years, give the value in pounds.
for this I did
f(t) = 2,000,000(1.08)t
= 2,000,000 (1.08)10
=£4,317,849.995 so rounded it upto £4,317,850
does that seem right???
a) the value of their oil sales after 10 years, give the value in pounds.
for this I did
f(t) = 2,000,000(1.08)t
= 2,000,000 (1.08)10
=£4,317,849.995 so rounded it upto £4,317,850
does that seem right???
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