anonymous
  • anonymous
If Php 56,734 is the present value of P hp 254,652 when will it earn its interest if money is worth 10.25% compound quartely ?
Engineering
  • Stacey Warren - Expert brainly.com
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SOLVED
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katieb
  • katieb
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anonymous
  • anonymous
@mathmate
anonymous
  • anonymous
@mathmate
mathmate
  • mathmate
@jacalneaila I thought you're doing statics, suddenly you're in finite math? lol

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More answers

anonymous
  • anonymous
im done in statics :)
anonymous
  • anonymous
thank you very much :)
mathmate
  • mathmate
Well, this is an application of the compound interest formula. Are you familiar with the compound interest formula?
anonymous
  • anonymous
yes :)
anonymous
  • anonymous
can you check my answer :)
mathmate
  • mathmate
sure, what do you get, and how did you get it?
anonymous
  • anonymous
F=P(\[F=P(1+r/m)^t^m\]
mathmate
  • mathmate
Good, what you you use for r and m?
anonymous
  • anonymous
\[254,652=56734(1+10.25%/4)^(4)(x) \]
anonymous
  • anonymous
m=4
anonymous
  • anonymous
r=10.25%
anonymous
  • anonymous
date is missing
anonymous
  • anonymous
the answer is 14.84
mathmate
  • mathmate
Can you continue the formula from here? 254,652=56734(1+10.25
anonymous
  • anonymous
\[254,652=56734(1+10.25%/4)^(x)(4)\]
anonymous
  • anonymous
254,652=56734(1+10.25%/4)^(x)(4)
anonymous
  • anonymous
@mathmate 254,652=56734(1+10.25%/4)^(x)(4)
mathmate
  • mathmate
Try not to write the %, and the brackets at the end are not correct. It should look like this. 254,652=56734(1+0.1025/4)^(4x) How did you solve for x?
anonymous
  • anonymous
14.84
anonymous
  • anonymous
i put in calcu , shift solve
mathmate
  • mathmate
What kind of calculator solves this problem the way you entered it?
anonymous
  • anonymous
i use 991es calcu
mathmate
  • mathmate
Amazing, did it give more than two places of decimals? What's the rest of the number, if you have it?
anonymous
  • anonymous
yeass
mathmate
  • mathmate
Just curious, what's the rest of the numbers? (i.e. more accuracy for the answer?)
anonymous
  • anonymous
just put a x in calcu
anonymous
  • anonymous
althought , you have to adjust the decimal numbers
mathmate
  • mathmate
The problem is, 14.84 is not the correct answer, because you will see that if you use the same compound interest formula, and solve for FV, you get PhP 254757.28 and not 254652. You need more accuracy.
anonymous
  • anonymous
the questions is when ? it means a date
mathmate
  • mathmate
That's ok if the answer satisfies your teacher!
anonymous
  • anonymous
i have also a problem with this questions
anonymous
  • anonymous
At what rate compounded monthly will php 36000 become php 48500 at the end of 85 months
anonymous
  • anonymous
in calcu , cant solve
anonymous
  • anonymous
@mathmate i use same formula , but icant solve
mathmate
  • mathmate
Can you post the formula the way you put it in and I can see why, or what we can do to make it solve?
mathmate
  • mathmate
The reason is you are not solving for the same unknown, you need some adjustments to help the calculator.
anonymous
  • anonymous
48500=36000(1+X/12)^(12)(85/12) rate is the missing
mathmate
  • mathmate
We will start by understanding how compound interest works, then we will be able to solve for anything, even when the 991es gets stuck, ok?
anonymous
  • anonymous
ok :)
mathmate
  • mathmate
So the compound interest formula works like this: F=P(1+i/m)^(mt) where F=future value, P=present value, m=number of times it compounds in a year, n=number of years, and i=(nominal) interest rate. I think you are familiar with it, right?
anonymous
  • anonymous
48500=36000(1+x/12)^12 (85/12)?
mathmate
  • mathmate
Not too fast, we need to understand, and modify the formula to help the calculator. I was actually surprised that it found the answer the first time around!
mathmate
  • mathmate
Your formula is correct, but the problem is too hard for the calculator!
mathmate
  • mathmate
To continue our discussion, are you familiar with: F=P(1+i/m)^(mt) ?
anonymous
  • anonymous
okay okay :) no
anonymous
  • anonymous
yes
anonymous
  • anonymous
yeah
mathmate
  • mathmate
But that's the same formula as the first AND second problem that you used!
mathmate
  • mathmate
ok, so you're familiar with it!
anonymous
  • anonymous
i will use it , wait :)
mathmate
  • mathmate
Are you able to solve for the period, using the formula, and not using the automatic solver of the calculator?
anonymous
  • anonymous
i will try :)
mathmate
  • mathmate
The key is to take log on both sides, which then reduces the exponentiation to a multiplication. See if you can come up with a new formula using logs!
mathmate
  • mathmate
without using the calculator, because we are not working with numbers!
anonymous
  • anonymous
:( , i did not get it
mathmate
  • mathmate
You're still using the calculator. I need you to take log on both sides of the formula, and simplify the equation. It will be in a form that the calculator will solve!
mathmate
  • mathmate
For now, ditch the calculator, and use pencil and paper!
anonymous
  • anonymous
how can i solve it
anonymous
  • anonymous
i have a pencil and paper
anonymous
  • anonymous
first step
anonymous
  • anonymous
how can u teach m
anonymous
  • anonymous
:(
mathmate
  • mathmate
Take log on both sides, and change the exponent (on the right of the equal sign) to multiplication, as the laws of exponents require. log(ab)=log(a)+log(b) log(a^b)= b log(a) and put the modified formula for the calculator to solve. Tell me what you get.
mathmate
  • mathmate
I got between 4 and 4.5 %.
anonymous
  • anonymous
i got 4.1254759065 x 10^-4
mathmate
  • mathmate
You seem to be a factor of approximately 10 off somewhere. Use this interest rate and the compound interest formula to see you you get back 48500 after 85 months. Can you show me what you put in the calculator, perhaps a 12 is missing or misplaced somewhere!
mathmate
  • mathmate
Using interest rate of 4.1254759065 x 10^-4, we get only 36105 after 85 monthes.
mathmate
  • mathmate
Try your calculator with log(F/P)=log((1+x/12)^(12*85/12)

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