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Math Help - Compound interest timeline

  1. #1
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    Compound interest timeline

    Raul’s grandparents invested $1000 in a GIC for him on his 15th birthday and $2000 on his sixteenth birthday. During each of the two years the money earned 8.5% compounded annually.

    Draw a time line to show the situation

    I need help drawing the timeline to show the situtation. I am doing online schooling so work is being submitted online
    Last edited by mr fantastic; May 5th 2009 at 05:30 PM. Reason: Deleted duplicate question.
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  2. #2
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    1) Draw a horizontal line.
    2) Put a small vertical mark and label it 15.
    3) Put another vertical mark to the right of the first and label it 16.
    4) Put another vertical mark to the right of the second and label it 17.
    5) Above the 15 mark, put +1000
    6) Above the 16 mark, put +2000
    7) Put 0.085 in both spaces, the one between 15 and 16 and the one between 16 and 17.

    Truthfully, if you cannot draw this timeline, you may wish to have a VERY FRANK conversation with any academic advisor you can find. This is NOT encouraging.
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