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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

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  1. heisenberg Group Title
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    there is a formula for this. do you know it / did you use it for the first question?

    • 3 years ago
  2. toxicsugar22 Group Title
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    yes it is A=P(1+r/n)^nt

    • 3 years ago
  3. heisenberg Group Title
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    ok so: r = .10 n = 365 A = 3*P \[3*P = P*(1+\frac{.1}{365})^{.1*t}\]solve for t.

    • 3 years ago
  4. toxicsugar22 Group Title
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    so what do we do know

    • 3 years ago
  5. toxicsugar22 Group Title
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    do i divide by 3

    • 3 years ago
  6. heisenberg Group Title
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    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
  7. toxicsugar22 Group Title
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    so 3=p(1+10/365)^365/t

    • 3 years ago
  8. toxicsugar22 Group Title
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    is it right

    • 3 years ago
  9. heisenberg Group Title
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    no. after dividing by P:\[3= (1+\frac{.1}{365})^{.1*t}\]

    • 3 years ago
  10. heisenberg Group Title
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    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
  11. toxicsugar22 Group Title
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    ok can you help me do that it really hard for me

    • 3 years ago
  12. toxicsugar22 Group Title
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    please

    • 3 years ago
  13. heisenberg Group Title
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    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
  14. toxicsugar22 Group Title
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    ok can u help more

    • 3 years ago
  15. heisenberg Group Title
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    what do you not understand?

    • 3 years ago
  16. toxicsugar22 Group Title
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    the log

    • 3 years ago
  17. toxicsugar22 Group Title
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    its so complicated

    • 3 years ago
  18. heisenberg Group Title
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    can you use a calculator?

    • 3 years ago
  19. toxicsugar22 Group Title
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    maybe if you go step by step with me then i will get it

    • 3 years ago
  20. toxicsugar22 Group Title
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    yes i can use a calc.

    • 3 years ago
  21. toxicsugar22 Group Title
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    i can but i still need help

    • 3 years ago
  22. heisenberg Group Title
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    take the log(3), then divide by the other log. then divide by .1

    • 3 years ago
  23. toxicsugar22 Group Title
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    ok log 3 is .47712125

    • 3 years ago
  24. toxicsugar22 Group Title
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    now i divide by what

    • 3 years ago
  25. heisenberg Group Title
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    log(1+.1/365)

    • 3 years ago
  26. toxicsugar22 Group Title
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    i got 1.18968

    • 3 years ago
  27. toxicsugar22 Group Title
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    is it right

    • 3 years ago
  28. toxicsugar22 Group Title
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    is it right

    • 3 years ago
  29. toxicsugar22 Group Title
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    i got .4010500723

    • 3 years ago
  30. heisenberg Group Title
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    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
  31. toxicsugar22 Group Title
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    ok But isnt it .10 instead of .1

    • 3 years ago
  32. toxicsugar22 Group Title
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    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
  33. heisenberg Group Title
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    those are the same number! .1 = .10 = .100 = .10000000

    • 3 years ago
  34. toxicsugar22 Group Title
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    so what is the answere

    • 3 years ago
  35. heisenberg Group Title
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    can you not calculate it? it would be better then me just giving it to you.

    • 3 years ago
  36. toxicsugar22 Group Title
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    i tried

    • 3 years ago
  37. toxicsugar22 Group Title
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    ut i got a weird answer and im not sure i got it right

    • 3 years ago
  38. heisenberg Group Title
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    http://www.wolframalpha.com/input/?i=log%283%29+%2F+log%281%2B.1+%2F+365%29+%2F+.1&a=*FunClash.log-_*Log10.Log-

    • 3 years ago
  39. toxicsugar22 Group Title
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    it 40104.8

    • 3 years ago
  40. toxicsugar22 Group Title
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    is that it

    • 3 years ago
  41. heisenberg Group Title
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    that doesn't seem right though, heh. does it?

    • 3 years ago
  42. toxicsugar22 Group Title
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    no it doesnt

    • 3 years ago
  43. heisenberg Group Title
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    because i messed up! it is n*t, not r*t. so you should not divide by .1, but by 365

    • 3 years ago
  44. toxicsugar22 Group Title
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    ok

    • 3 years ago
  45. toxicsugar22 Group Title
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    so now can u help again

    • 3 years ago
  46. heisenberg Group Title
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    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
  47. toxicsugar22 Group Title
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    yes

    • 3 years ago
  48. toxicsugar22 Group Title
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    You do it also and then we will compare aur answers

    • 3 years ago
  49. toxicsugar22 Group Title
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    okay

    • 3 years ago
  50. heisenberg Group Title
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    i just did it. click on that link. it is an online calculator.

    • 3 years ago
  51. toxicsugar22 Group Title
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    ok i got 10991.6

    • 3 years ago
  52. toxicsugar22 Group Title
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    is that what you got

    • 3 years ago
  53. heisenberg Group Title
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    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
  54. toxicsugar22 Group Title
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    ok thanks

    • 3 years ago
  55. toxicsugar22 Group Title
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    im going to give you a medal and be your fan if you be my fan

    • 3 years ago
  56. toxicsugar22 Group Title
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    do u agree

    • 3 years ago
  57. toxicsugar22 Group Title
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    u there

    • 3 years ago
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