Here is a problem that I was presented in my math class using logs and my entire group is stumped:(adsbygoogle = window.adsbygoogle || []).push({});

Peter deposits $800 into an investment fund that earns 8% per year, compounded annually. Mary Jane deposits $1000 into an investment fund that earns 6% per year, compounded annually? When will their investments be equal?

This is what we have so far:

800(1.08)^x = 1000(1.06)^x

0.8(1.08)^x = 1.06^x

log1.08(800) = x

log1.06(1000) = x

log1.08(800) = log1.06(1000)

log800/log1.08 = log1000/log1.06 (This does not work; they are not equal)

What did I do wrong and could someone please help me get the answer? Thanks

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# Homework Help: Log Problem

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