Question 4: If I invest £1000 in a bank account with an interest rate of 10% per year (compounded). Draw a time-line to represent the value at
time = 0, time = 1yr and time = 2yrs. (Please look up compound interest)
t=1
t=2
t=0
£1000

there is no grid

step-by-step explanation:

answer: solve 5\cdot 2^x=2405⋅2  

x

=2405, dot, 2, start superscript, x, end superscript, equals, 240.

solution

to solve for xxx, we must first isolate the exponential part. to do this, divide both sides by 555 as shown below. we do not multiply the 555 and the 222 as this goes against the order of operations!

\begin{aligned} 5\cdot 2^x& =240 2^x& =48 \\ \end{aligned}  

5⋅2  

x

2  

x

​    

=240

=48

​

step-by-step explanation: