anonymous
  • anonymous
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
Mathematics
schrodinger
  • schrodinger
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amistre64
  • amistre64
450 = 300(1+ r/4)^(8r)
amistre64
  • amistre64
http://www.wolframalpha.com/input/?i=450+%3D+300%281%2B+r%2F4%29^%288r%29
anonymous
  • anonymous
and how do i solve that @amistre64

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amistre64
  • amistre64
with cunning and style
amistre64
  • amistre64
46.28%
amistre64
  • amistre64
divide 300 take logs; and use rules of logs to manipulate it
amistre64
  • amistre64
or graph it and find the zero
anonymous
  • anonymous
thank you
anonymous
  • anonymous
can you show me step by step
amistre64
  • amistre64
i can try lol
anonymous
  • anonymous
ok thanks lol
anonymous
  • anonymous
@ amistr64 can i ask you a question when you done helping them
amistre64
  • amistre64
its 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
  • anonymous
so problems like this have to be solved with a calculator?
amistre64
  • amistre64
log(3) - log(2) -------------- = 8r log(4+r) - log(4) A ---------- = 8r log(4+r) - B log(4+r) - B = A/8r etc...
amistre64
  • amistre64
it canbe done by hand, but its alot of window dressing to get it to the right spot
anonymous
  • anonymous
and the way you doing it here is by hand or calculator
anonymous
  • anonymous
@amistre are you still there
amistre64
  • amistre64
by hand; which is why i left it alone really; :)
anonymous
  • anonymous
oh ok

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