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| Subject:
MATH LOG PROBLEMS
Category: Science > Math Asked by: bedhog-ga List Price: $2.00 |
Posted:
28 Dec 2004 07:12 PST
Expires: 29 Dec 2004 04:55 PST Question ID: 448172 |
The amount of money A accured at the end of N years when a certain amount P is invested at a compound rate R is given by A=P(1+R)^N. If a person invests $340 at 9% interest compound annually, find the approximate obtained at the end of 10 years. |
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| Subject:
Re: MATH LOG PROBLEMS
From: probonopublico-ga on 28 Dec 2004 11:03 PST |
$804.90 |
| Subject:
Re: MATH LOG PROBLEMS
From: bedhog-ga on 28 Dec 2004 11:26 PST |
how did you work it? |
| Subject:
Re: MATH LOG PROBLEMS
From: mathtalk-ga on 28 Dec 2004 11:36 PST |
probonopublico-ga's methods, while they are always for the public good, are notoriously hidden and secretive. However your formula A = P (1 + R)^N gives the same answer with: P = principal amount = $340 R = annually compounded interest = 9% = 0.09 N = number of compounding periods (years) = 10 regards, mathtalk-ga |
| Subject:
Re: MATH LOG PROBLEMS
From: probonopublico-ga on 28 Dec 2004 22:44 PST |
Wow ... I seem to have got it right!
log 340 = 2.531478917
log 1.09 = 0.037426498 x 10 0.374264979
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antilog 2.905743896 = 804.90
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