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 3 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
 3 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

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

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

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

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

heisenberg
 3 years ago
Best ResponseYou've already chosen the best response.1well 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.

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

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

heisenberg
 3 years ago
Best ResponseYou've already chosen the best response.1then 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.

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

heisenberg
 3 years ago
Best ResponseYou've already chosen the best response.1so 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.

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

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

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

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

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

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

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

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

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

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

heisenberg
 3 years ago
Best ResponseYou've already chosen the best response.1how 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

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

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

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

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

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

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

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

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

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

heisenberg
 3 years ago
Best ResponseYou've already chosen the best response.1you 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

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

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

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

heisenberg
 3 years ago
Best ResponseYou've already chosen the best response.1no. 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

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