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anonymous
 5 years ago
if $300 is deposited in an account and it increases to $450 in eight years compounded quarterly. find the rate of interest to the nearest tenth
anonymous
 5 years ago
if $300 is deposited in an account and it increases to $450 in eight years compounded quarterly. find the rate of interest to the nearest tenth

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amistre64
 5 years ago
Best ResponseYou've already chosen the best response.1450 = 300(1+ r/4)^(8r)

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.1http://www.wolframalpha.com/input/?i=450+%3D+300%281%2B+r%2F4%29^%288r%29

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0and how do i solve that @amistre64

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.1with cunning and style

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.1divide 300 take logs; and use rules of logs to manipulate it

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.1or graph it and find the zero

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0can you show me step by step

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0@ amistr64 can i ask you a question when you done helping them

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.1its easier on paper... 450/300= 3/2 3/2 = (1 + r/4)^(8r) log(3/2) = log(1+ r/4)^(8r) log(n) = 8r log(1+ r/4) log(n)  = 8r log(1 + r/4)

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0so problems like this have to be solved with a calculator?

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.1log(3)  log(2)  = 8r log(4+r)  log(4) A  = 8r log(4+r)  B log(4+r)  B = A/8r etc...

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.1it canbe done by hand, but its alot of window dressing to get it to the right spot

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0and the way you doing it here is by hand or calculator

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0@amistre are you still there

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.1by hand; which is why i left it alone really; :)
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