anonymous
  • anonymous
About how long will it take for you to save enough money to make your purchase based on the compound interest graph?
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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chestercat
  • chestercat
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anonymous
  • anonymous
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anonymous
  • anonymous
I assume you would just solve for x...
anonymous
  • anonymous
im not sure how to do that?

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anonymous
  • anonymous
can you zoom into the graph a little more
anonymous
  • anonymous
sure! one second
anonymous
  • anonymous
|dw:1378174630915:dw|
anonymous
  • anonymous
And how much is the purchase or is it intersection point not sure exactly of the problem
anonymous
  • anonymous
|dw:1378174676512:dw|
anonymous
  • anonymous
the purchase is 10,000
anonymous
  • anonymous
|dw:1378174782593:dw|
anonymous
  • anonymous
|dw:1378174795150:dw|
anonymous
  • anonymous
|dw:1378174825254:dw|
anonymous
  • anonymous
X is the time so it would take 100 years.
anonymous
  • anonymous
how do you know the answer when you didnt know how much the purchase was??
anonymous
  • anonymous
Well if f(x) is the compound interest graph and g(x) is the simple interest graph based on how much you are saving, I just checked when they would be equal to each other.
anonymous
  • anonymous
@xoxo_devvie is the equation to the 3rd?
anonymous
  • anonymous
Like the intersection point.
anonymous
  • anonymous
It's a cube yeah.
anonymous
  • anonymous
shouldnt it be 365
anonymous
  • anonymous
well 365t
anonymous
  • anonymous
oh! ok that makes more sense... wellhow long will it take to make the purchase on the simple interest graph??
anonymous
  • anonymous
Well what was the purchase?
anonymous
  • anonymous
10,000 okay.
anonymous
  • anonymous
10000 = 7.5(1 + 0.01/365)^(365t)
anonymous
  • anonymous
That's it :P .
anonymous
  • anonymous
need to solve for T is it supposed to be 7500 not 7.5?
anonymous
  • anonymous
t = 719.554 years
anonymous
  • anonymous
Damn that's a long time :P .
anonymous
  • anonymous
if it was supposed to be 7.5 thousand it would be 28.7686 years
anonymous
  • anonymous
which seems to make more sense
anonymous
  • anonymous
so which one is it? lol 100 years or 719.554 years?
anonymous
  • anonymous
mine
anonymous
  • anonymous
its either 28.7686 years or 719.554 years
anonymous
  • anonymous
it depends on if that 7.5 out front is supposed to be 7.5 thousand or just 7.5
anonymous
  • anonymous
which it seems like it should be 7.5 thousand so go with 28.7687
anonymous
  • anonymous
can you show me? like draw me how you got the answer so i may follow along? :)
anonymous
  • anonymous
yes are u supposed to use graph or algebraically
anonymous
  • anonymous
http://www.wolframalpha.com/input/?i=10+%3D+7.5%281+%2B+0.01%2F365%29%5E%28365t%29
anonymous
  • anonymous
thank you so much! that was compound. how about simple interest? how long will it take to make my purchase then?
anonymous
  • anonymous
simple interest adds a set amount of the primary amount which is 1% so 10=7.5+1.01*7.5*t
anonymous
  • anonymous
err 10=7.5+.01*7.5t ***
anonymous
  • anonymous
t is 33.333 repeating
anonymous
  • anonymous
http://www.wolframalpha.com/input/?i=10%3D7.5%2B.01*7.5*t
anonymous
  • anonymous
this makes so much more sense now. thank you!
anonymous
  • anonymous
no problem hope it makes more sense

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