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August 17th, 2009, 11:03 AM  #1 
Newbie Joined: Aug 2009 Posts: 2 Thanks: 0  I am new and confused....
Hello to All, I am new here. I have a math/finance question and I hope I get some answers for them. I had college level knowledge of math but can't even solve a simple problem...it is the old age I guess... My daughter and her friend are planing to get into a small hotel business. That are asked to write a business plan and they are doing that. Only, they are getting two different values for their calculations, and I can't find their mistakes... They have to forecast the income from the hotel rooms. There is no problem with the forecasting but with the calculations. These are the questions: 1.) If one month an amount of $ 900.00 collected, and there will be 10% increase every month,what will be the total in 12 months? 2.) ...............................$1020.00........... .................................................. ............................................? Please help!!! Thank you. 
August 17th, 2009, 12:44 PM  #2 
Member Joined: Jul 2009 Posts: 34 Thanks: 0  Re: I am new and confused....
1.) So in the first month they collect $900. The next month (1.1)*$900=$990. The next month (1.1)^2*$1089... So after 12 months they have .2) Same way we get 
August 17th, 2009, 01:49 PM  #3 
Newbie Joined: Aug 2009 Posts: 2 Thanks: 0  Re: I am new and confused....
God bless you...thank you showing the steps. For $900: you get $19,245.86 ; they get $19,292.20..?? For $1,020 they have the same amount, which is $21,811.97 
August 19th, 2009, 04:56 PM  #4 
Member Joined: Jul 2009 Posts: 34 Thanks: 0  Re: I am new and confused....
I'm pretty sure my answer is right. If you could post their calculations, I can perhaps see where it went wrong. 
August 19th, 2009, 06:15 PM  #5  
Global Moderator Joined: Nov 2006 From: UTC 5 Posts: 16,046 Thanks: 938 Math Focus: Number theory, computational mathematics, combinatorics, FOM, symbolic logic, TCS, algorithms  Re: I am new and confused.... Quote:
 

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