Math Help - Word Problem using compound

1. Word Problem using compound

hello all!

I want to start out by saying I know how to get the answer to this problem... I am specifically looking for the FORMULA to solve a problem like this. Thanks!

STARTING WITH $0.00 I have an income of$10,000 an hour
I have “30” stock
To buy “1” stock you must pay $20,000; i.e.: In two hours I will be able to buy “1 stock” for a total of “31 stock” Every time you purchase “1” stock it increases your hourly income by 525. Again for example, in two hours I will have 20k and be able to buy “1” stock, bringing my hourly income up to$10,525. After two more hours I will have “32” stock and an hourly income of $11,050. If you purchase “1” stock every time you have an additional 20k; how long would it take to get to 200? (We are starting at 30 so I guess it would be the additional 170 stock) I know I can keep adding 525 and figure it out the hard way, but I am curious as to what a formula for a problem like this would look like and how it would work. I appreciate your time!!! 2. Want to make sure that I follow your "confusion" Do you agree that the following happens during hours 9 to 13: Code: hour per-hour purchase balance #stocks 9 12,100 18,400 34 10 12,100 -20,000 10,500 35 11 12,625 -20,000 3,125 36 12 13,150 16,275 36 13 13,150 -20,000 9,425 37 3. If that is the correct balance starting at hour 9 then yes I agree. I am able to do what you just did all the way to 200... but is there a formula to describe it? 4. I make it that the 200 mark is reached after 90 hours...during this 90th hour, 5 stocks are purchased, the hourly rate having reached$97,675!!
Stocks 198 to 202 are purchased, with \$11,500 left in the kitty.

I can't right now (too sleepy!) imagine a formula for this.
Perhaps someone else will. Happy 2011 to you.