Person A donated 50 000 TL to a foundation. This donation is needed at the...
80.2K
Verified Solution
Link Copied!
Question
Finance
Person A donated 50 000 TL to a foundation. This donation is needed at the end of each year. It is distributed to its owners from a donation fund with an annual effective interest rate of 5%. First 10 years of each year In the end, it is distributed as 2 000 TL, and in the following times as 3 000 TL. Until the fund is reset payments continue to be made, but an amount less than 3,000 TL in the last year remained. Accordingly, how many years have passed until the fund is reset and what is the remaining money in the fund Calculate how long?
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.