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How to solve this algebraically? |
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| Apr10-12, 05:40 AM | #1 |
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How to solve this algebraically?
1. The problem statement, all variables and given/known data
125,000=79,770.26(1+[itex]\frac{.045}{n}[/itex])10n 2. Relevant equations 3. The attempt at a solution I'm not sure how to use a logarithm with this, or if it's even possible. I know that n=12, I just don't know how to solve for it. |
| Apr10-12, 06:35 AM | #2 |
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Mentor
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You can't solve this analytically. You will need to resort to numerical techniques. |
| Apr10-12, 06:44 AM | #3 |
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Thanks, I wasn't sure if I was missing something. It's not exactly 12 here because the 79,770.26 is rounded.
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| Apr10-12, 02:03 PM | #4 |
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How to solve this algebraically?
79,770.62 is closer, and 79,770.63 is closer still for n=12.
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| Apr10-12, 08:10 PM | #5 |
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Recognitions:
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| Apr11-12, 09:33 AM | #6 |
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Recognitions:
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