a)
amount available at beginning = 140000-23000 = 117000
amount available after year 1 end = 117000 * 1.09 = 127530
amount available after year 2 beginning = 127530 -9000 = 118,530
amount available after year 2 end = 118,530 * 1.09 = 129,197.70
amount available after year 3 beginning = 129,197.70 -9000 = 129,197.70
amount available after year 3 end = 129,197.70* 1.09 = 131,015.49
amount available after year 4 beginning = 131,015.49 -9000 =122,015.49
amount available after year 4 end = 122,015.49* 1.09 = 132,996.88
amount available after year 5 beginning = 132,996.88 -9000 = 123,996.88
money parents have at the end of four years = 123,996.88...........ans
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b)
If the school fees is $25,100 per year then one can study $123,996.88/$25,100 years i.e 4.94 year in that school.
a of the above is correct but b is incorrect
b) should be continued the same as A.
money parents have at the end of 4 years 123996.88 X 1.09 - 25100
continue repeating calculations until there is a remainder less than school fees and divide it by 25100 and add it to the # of times you subtracted the school fees
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