Let's move like a crab, backwards some.
after 2 years?
after 3 years?
is that enough to pay the $1100?
now, let's write 1000(1+r)² in standard form
1000( 1² + 2r + r²)
1000(1 + 2r + r²)
1000 + 2000r + 1000r²
1000r² + 2000r + 1000 <---- standard form.
after 2 years?
after 3 years?
is that enough to pay the $1100?
now, let's write 1000(1+r)² in standard form
1000( 1² + 2r + r²)
1000(1 + 2r + r²)
1000 + 2000r + 1000r²
1000r² + 2000r + 1000 <---- standard form.