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How to solve this algebraically?

  1. Apr 10, 2012 #1
    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. jcsd
  3. Apr 10, 2012 #2

    D H

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    Staff Emeritus
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    n = 12 is a solution for sufficiently large values of 12. n=12 (exactly) is not a solution. n≈12.06655246 is a solution.

    You can't solve this analytically. You will need to resort to numerical techniques.
     
  4. Apr 10, 2012 #3
    Thanks, I wasn't sure if I was missing something. It's not exactly 12 here because the 79,770.26 is rounded.
     
  5. Apr 10, 2012 #4
    79,770.62 is closer, and 79,770.63 is closer still for n=12.
     
  6. Apr 10, 2012 #5

    Mentallic

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    Homework Helper

    :rofl:
     
  7. Apr 11, 2012 #6

    Curious3141

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    Nice! :biggrin:
     
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