- #1
EV33
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Ok so we are given a word problem discussing compound interest. In the first part of the question, we are given the equation:
S(t) = (k/r)(e^rt -1)
The next thing we are asked to do is calculate the value of r are given values of k, t, and
S(t). The given values are k = 2000, t = 40, S(t) = 10^6.
Plugging the values into this equation, you get:
10^6 = (2000/r)(e^40r - 1)
So far I have divided both sides by 2000 so that the equation is now:
500 = (1/r)(e^40r -1)
However now I can not figure out how to solve the equation for r with the two locations of the r's in the problem. Please help.
Thanks.
S(t) = (k/r)(e^rt -1)
The next thing we are asked to do is calculate the value of r are given values of k, t, and
S(t). The given values are k = 2000, t = 40, S(t) = 10^6.
Plugging the values into this equation, you get:
10^6 = (2000/r)(e^40r - 1)
So far I have divided both sides by 2000 so that the equation is now:
500 = (1/r)(e^40r -1)
However now I can not figure out how to solve the equation for r with the two locations of the r's in the problem. Please help.
Thanks.