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Aunt Lucy Maths Investigation

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Introduction

Maths Coursework

Foundation Tier Task – Aunt Lucy

Plan

My plan is to calculate all four schemes in three five-year periods. Scheme A, B, C and D each last for 15 years. I will set the results using tables of data. Then I shall produce bar graphs to compare my results and evaluate what I have done.

The schemes are as follows: -

Scheme A

£100 to pay now, £90 to pay in a year’s time, £80 to pay in two year’s time, ect

Scheme B

£10 to pay now, £20 to pay in a year’s time, £30 to pay in two years time, ect

Scheme C

£10 to pay now, 1.5 of £10 to pay in a year’s time, 1.

...read more.

Middle

£780

13

£130

£910

14

£140

£1050

15

£150

£1200

Scheme C                                Years 1 –5

Number of Years

Annual Scheme Income

Total

1

£10

£10

2

£15

£25

3

£22.50

£47.50

4

£33.75

£81.25

5

£50.62

131.87

Scheme C                                Years 6 – 10

Number of Years

Annual Scheme Income

Total

6

£75.93

£207.80

7

£113.90

3321.70

8

£170.84

£492.54

9

£256.26

£748.80

10

£384.40

£1133.20

Scheme C                                Years 11 – 15

Number of Years

Annual Scheme Income

Total

11

£576.60

£1709.80

12

£864.90

£2574.70

13

£1297.35

£3872.05

14

£1946.03

£5818.08

15

£2919.04

38757.12

Scheme D                                Years 1 – 5

Number of Years

Annual Scheme Income

Total

1

£1

£1

2

£2

£3

3

£4

£7

4

£8

£15

4

£16

£31

Scheme D                                Years 6 – 10

Number of Years

Annual Scheme Income

Total

6

£32

£63

7

£64

£127

8

£128

£255

9

£256

£511

10

£512

£1023

...read more.

Conclusion

My Scheme                                Years 1 – 5

Number of Years

Annual Scheme Income

Total

1

£30

£30

2

£60

£90

3

£90

£180

4

£120

£300

5

£150

£450

My Scheme                                Years 6 – 10

Number of Years

Annual Scheme Income

Total

6

£180

£630

7

£210

£840

8

£240

£1080

9

£270

£1350

10

£300

£1650

My Scheme                                Years 11 – 15

Number of Years

Annual Scheme Income

Total

11

£330

£1980

12

£360

£2340

13

£390

£2730

14

£420

£3150

15

£450

£3600

Conclusion

My Scheme results in a lot of money being made from only a small annual instalment of £30. Each year it doubles, so after that you would pay £60 ect. If I was to increase the price to £50 ect, I predict that Bob would make over a million pounds.

Total Amount for each Scheme over the 15 year period

Scheme Letter

Total Money After 15 Years

A

£550

B

£1200

C

£8757.12

D

£37867

My Scheme

£3600

Craig Steels 10NT                1/07/02

...read more.

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