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How to solve this algebraically? 
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#1
Apr1012, 05:40 AM

P: 234

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. 


#2
Apr1012, 06:35 AM

Mentor
P: 15,055

You can't solve this analytically. You will need to resort to numerical techniques. 


#3
Apr1012, 06:44 AM

P: 234

Thanks, I wasn't sure if I was missing something. It's not exactly 12 here because the 79,770.26 is rounded.



#4
Apr1012, 02:03 PM

P: 361

How to solve this algebraically?
79,770.62 is closer, and 79,770.63 is closer still for n=12.



#5
Apr1012, 08:10 PM

HW Helper
P: 3,505




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