#1640 · Algebra · Sequences & series

Depleting Capital

A man has a capital of £20000 for which he receives interest at 5 per cent.; if he spends £1800 every year, show that he will be ruined before the end of the 17th year; having given $lo g 2 = .3010300$ , $lo g 3 = .4771213$ , $lo g 7 = .8450980$ .

~15 minProof · checked by AIrecurrence relationsfinancial ruin

H. S. Hall & S. R. Knight, Higher Algebra (1891) · Ch. XVIII. Interest and Annuities, Examples XVIII.b, No. 12

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