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gladu [14]
4 years ago
6

Barbara made a bad investment. Rather than earning interest, her money is decreasing in value by 11% each week! After just one w

eek, she is down to just $142.40. How much money did she start with? If she does not withdraw her money, how long will it be before she has less than half of what she originally invested?
Mathematics
1 answer:
pochemuha4 years ago
5 0

Answer: She started with $160.

It will take 6 weeks before she has less than half of what she originally invested.

Step-by-step explanation:

If her money is decreasing in value by 11% each week, it means that the rate at which it is decreasing is exponential.

We would apply the formula for exponential decay which is expressed as

A = P(1 - r)^t

Where

A represents the value of the investment after t weeks.

t represents the number of weeks.

P represents the initial value of the investment.

r represents rate of depreciation.

From the information given,

A = $142.40

r = 11% = 11/100 = 0.11

t = 1

Therefore

142.40 = P(1 - 0.11)^1

142.40 = P(0.89)

P = 142.4/0.89

P = 160

For her to have half of what she invested originally, then

80 = 160(0.89)^t

80/160 = (0.89)^t

0.5 = (0.89)^t

Taking log of both sides to base 10

Log 0.5 = log0.89^t = tlog0.89

- 0.3010 = - 0.051t

t = - 0.3010/- 0.051

t = 5.9

Approximately 6 weeks

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Step-by-step explanation:

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*We will come back to this once we have more information.

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The only 2 digit number that is a multiple of 60 is 60, so 6 and 0 are the last 2 digits.  This rules out two answers from Step 1 since no digits can repeat.  Only 289 works since 169 and 256 each have a 6 in them.  So now we know the first 3, and last 2 numbers!

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