A certain sum of money is invested in a business. in each year this investment earns 1 1/2 times as much as in the preceding year. If the investment earned a total of $29,250.00 in four years, how much did it earn in the fourth year?

Answer 1

amount= origamount*1.5^timeInYears

so in four years, amount=orig*1.5^4
earned=amount-orig=orig^1.5^4-orig
29250=orig (1.5^4-1)

solve for orig, then
then solve for amountafter4years, and amount after three years, and subtract.

amounteared4thyr= orig(1.5^4-1.5^3)
= orig (1.5^3)(1.5-1)

Answer 2

thanks

Answer 3

1. A sum of money is invested in a business. In each year this investment earns 1 times as much as in the preceding year. If the investment earned a total of $29,250 in four years, how much did it earn in the fourth year?
• CORRECT: $12,150
How to get it is to find out the original investment and do that by the following steps
amount= origamount*1.5^timeInYears

so in four years, amount=orig*1.5^4
earned=amount-orig=orig^1.5^4-orig
29250=orig (1.5^4-1)
29250=x(1.5^4-1)
Let's solve your equation step-by-step.
29250=x(1.54−1)
Step 1: Simplify both sides of the equation.
29250=4.0625x
Step 2: Flip the equation.
4.0625x=29250
Step 3: Divide both sides by 4.0625.
4.0625x
4.0625
=
29250
4.0625
x=7200

Witch is 7200 then times it by 1.5^4 then
7200(1.54−1.53)
=(7200)(1.54+−3.375)
=(7200)(1.54)+(7200)(−3.375)
=36450−24300
=12150