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toxicsugar22
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What rate of interstis required so that $1000 will yield $1900 after 5 years if the interset rate is compounded monthly. And I got 12.9%
Now How long will it take a sum of money to triple if it is invested at 10% compounded daily
 3 years ago
 3 years ago
toxicsugar22 Group Title
What rate of interstis required so that $1000 will yield $1900 after 5 years if the interset rate is compounded monthly. And I got 12.9% Now How long will it take a sum of money to triple if it is invested at 10% compounded daily
 3 years ago
 3 years ago

This Question is Closed

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
there is a formula for this. do you know it / did you use it for the first question?
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
yes it is A=P(1+r/n)^nt
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
ok so: r = .10 n = 365 A = 3*P \[3*P = P*(1+\frac{.1}{365})^{.1*t}\]solve for t.
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
so what do we do know
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
do i divide by 3
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
well you can start by dividing by P to get rid of it. then you will need to solve for t, which will involve using logarithms.
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
so 3=p(1+10/365)^365/t
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
is it right
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
no. after dividing by P:\[3= (1+\frac{.1}{365})^{.1*t}\]
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
then you must use logarithms. I use ln which is log_e, the natural log. \[\ln(3)= .1*t*\ln(1+\frac{.1}{365})\] then solve for t.
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
ok can you help me do that it really hard for me
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
please
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
so remember, what you do to one side of the equation, you must do to the others. since we want t by itself, we can divide by the other terms to isolate it, like so: \[\frac{\ln(3)}{\ln(1+\frac{.1}{365})} = .1*t\] then divide by .1 and you will have t by itself.
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
ok can u help more
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
what do you not understand?
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
the log
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
its so complicated
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
can you use a calculator?
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
maybe if you go step by step with me then i will get it
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
yes i can use a calc.
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
i can but i still need help
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
take the log(3), then divide by the other log. then divide by .1
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
ok log 3 is .47712125
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
now i divide by what
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
log(1+.1/365)
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
i got 1.18968
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
is it right
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
is it right
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
i got .4010500723
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
how did you get 1.18968? you must do the inside of the parentheses first. here is it in an online calculator: http://www.wolframalpha.com/input/?i=log%281%2B.1+%2F+365%29&a=*FunClash.log_*Log10.Log
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
ok But isnt it .10 instead of .1
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
because it wat to know How long will it take a sum of money to triple if it is invested at 10% compounded daily
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
those are the same number! .1 = .10 = .100 = .10000000
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
so what is the answere
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
can you not calculate it? it would be better then me just giving it to you.
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
i tried
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
ut i got a weird answer and im not sure i got it right
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
it 40104.8
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
is that it
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
that doesn't seem right though, heh. does it?
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
no it doesnt
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
because i messed up! it is n*t, not r*t. so you should not divide by .1, but by 365
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
so now can u help again
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
you should try and do these yourself on a calculator. you can type it in on this site if you want even. http://www.wolframalpha.com/input/?i=log%283%29+%2F+log%281%2B.1+%2F+365%29+%2F+365&a=*FunClash.log_*Log10.Log
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
You do it also and then we will compare aur answers
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
i just did it. click on that link. it is an online calculator.
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
ok i got 10991.6
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
is that what you got
 3 years ago

heisenberg Group TitleBest ResponseYou've already chosen the best response.1
no. click on the link to see. http://www.wolframalpha.com/input/?i=log%283%29+%2F+log%281%2B.1+%2F+365%29+%2F+365&a=*FunClash.log_*Log10.Log
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
ok thanks
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
im going to give you a medal and be your fan if you be my fan
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
do u agree
 3 years ago

toxicsugar22 Group TitleBest ResponseYou've already chosen the best response.0
u there
 3 years ago
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