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Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 05-08-2016
  • Mathematics
Answered

a tin mine is estimated to have tin reserves worth two million ringgit. if the monthly extraction is 5% of the value of the reserve the month before, find the value of the tin reserves after two years.

Verified Answer :

Edufirst
Edufirst Edufirst
  • 15-08-2016

Month_1 Value = Month_0 Value 0.95

Month_2 Value = Month_1 Value 0.95 = Moth_0 Value 0.950.95 = Month_0 Value 0.95^2

Month _n Value = Month_0 Value (0.95)^n

After 2 years ==> n = 24

Month_24 Value = Month_0 Value (0.95)^24 = 2,000,000 (0.95)^24 = 583,978.05

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