"Two unemployed young men decided to start a business together. They pooled in their savings. which came to $ 2.000. They were both lucky. their business prospered and they were able to increase their capital by 50 per cent every three years.
How much did they have in all at the end of eighteen years?"
could anybody help me solve this puzzle? (detaied answer please)
18 years is really 6 times the three year period the 50% increase occured in.
So after the first 3 years
So after the next 3 years
After another 3 years
See any pattern?
Surely it's just 2000 * (1.5)^(18/3).
Originally Posted by zenith20
thank you sooooooo much :)
it roughly comes out to be 22781.25