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compounded yearly eh...
325 = 89(1+r)^t right?
3.652 = (1+r)^18 if im doing it right :)
ok how do you get the r in the bracket...this is where I am confused
the r = rate of appreciation correct? if we take the initial value, and apply the "interest" to it we get: 89 + 89(rate); which factors to: 89(1+ rate) the rate is compunded every year for a total of 18 years. 89(1+rate)^18 = 325
Is the t = 19?
yes the t=19
log(3.652) = log[(1+r)^18] log(3.652) = 18 log(1+r) 3.652^(1/18) = 1+r 3.652^(1/18) -1 = r
dec 89 is basically jan 90
8+10 = 2008
I get about 7.5%
ok... well the answers that I have to choose from are: 6.69% 6.26% 6.87% 7.05%
im close then ;)
work it backwards to see what fits, thats what I do with multiple choices
If you use 19 then you get 7.05%
lol...yes...but I am trying to find out how to come up with that on a BAII Plus calculator. And log is not on this one
89(1.0705)^18 use the calculator on the computer.... programs, accessories, calculator usually
ok....we are only allowed to use our calculators in this exam, so I have to figure out how to do it on this one. Stupid Business Math! LOL
324.7407 if you use ^19 ;)
without a log button...you got exponent button?
can you key in a random exponent? like 1/19?
I use the button on the calculator that has a radical sign with the x above the radical sign and a y under the radical sign Type in 3.652 then that sign and then 19 =
1/19 not 19 :) way different value for that lol
ohh....radical sign, gotcha
the answers 7.05 ;) dont lose sight of that one lol
yes....thanks for coming up with the appropriate answer...but I am trying to find out how to punch in this formula. I am a math idiot.... wish I wasn't
OMG......figured it out....yipee. Sooooo love you guys!!!
take a pic of the calculator and post it :)
or not lol :)
yay!!! youre welcome :)
wish I knew how to use this dang thing....or that I knew how to do math
your math might be fine, that calculator looks mean tho lol
it is....we are all used to a regular scientific one. So we don't know how to use all the buttons that would probably make it much simpiler
it didnt post..... how odd
NOW THAT'S MY KIND OF CALCULATOR! Bahahahaha
well you ARE now my Superhero!! Thanks so much. And I will definitely be back, I assure you! LOL
have a great time ;)