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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
 2 years ago
 2 years ago
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
 2 years ago
 2 years ago

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heisenbergBest 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?
 2 years ago

toxicsugar22Best ResponseYou've already chosen the best response.0
yes it is A=P(1+r/n)^nt
 2 years ago

heisenbergBest 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.
 2 years ago

toxicsugar22Best ResponseYou've already chosen the best response.0
so what do we do know
 2 years ago

heisenbergBest 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.
 2 years ago

toxicsugar22Best ResponseYou've already chosen the best response.0
so 3=p(1+10/365)^365/t
 2 years ago

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

heisenbergBest 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.
 2 years ago

toxicsugar22Best ResponseYou've already chosen the best response.0
ok can you help me do that it really hard for me
 2 years ago

heisenbergBest 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.
 2 years ago

toxicsugar22Best ResponseYou've already chosen the best response.0
ok can u help more
 2 years ago

heisenbergBest ResponseYou've already chosen the best response.1
what do you not understand?
 2 years ago

toxicsugar22Best ResponseYou've already chosen the best response.0
its so complicated
 2 years ago

heisenbergBest ResponseYou've already chosen the best response.1
can you use a calculator?
 2 years ago

toxicsugar22Best ResponseYou've already chosen the best response.0
maybe if you go step by step with me then i will get it
 2 years ago

toxicsugar22Best ResponseYou've already chosen the best response.0
yes i can use a calc.
 2 years ago

toxicsugar22Best ResponseYou've already chosen the best response.0
i can but i still need help
 2 years ago

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

toxicsugar22Best ResponseYou've already chosen the best response.0
ok log 3 is .47712125
 2 years ago

toxicsugar22Best ResponseYou've already chosen the best response.0
now i divide by what
 2 years ago

heisenbergBest 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
 2 years ago

toxicsugar22Best ResponseYou've already chosen the best response.0
ok But isnt it .10 instead of .1
 2 years ago

toxicsugar22Best 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
 2 years ago

heisenbergBest ResponseYou've already chosen the best response.1
those are the same number! .1 = .10 = .100 = .10000000
 2 years ago

toxicsugar22Best ResponseYou've already chosen the best response.0
so what is the answere
 2 years ago

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

toxicsugar22Best ResponseYou've already chosen the best response.0
ut i got a weird answer and im not sure i got it right
 2 years ago

heisenbergBest ResponseYou've already chosen the best response.1
that doesn't seem right though, heh. does it?
 2 years ago

heisenbergBest 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
 2 years ago

toxicsugar22Best ResponseYou've already chosen the best response.0
so now can u help again
 2 years ago

heisenbergBest 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
 2 years ago

toxicsugar22Best ResponseYou've already chosen the best response.0
You do it also and then we will compare aur answers
 2 years ago

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

toxicsugar22Best ResponseYou've already chosen the best response.0
is that what you got
 2 years ago

heisenbergBest 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
 2 years ago

toxicsugar22Best ResponseYou've already chosen the best response.0
im going to give you a medal and be your fan if you be my fan
 2 years ago
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