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OpenStudy (anonymous):
Logarithm Word problem? Help please?
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OpenStudy (anonymous):
OpenStudy (anonymous):
\[5500=400(1.08)^y\] solve for y
OpenStudy (anonymous):
assuming interest is compounded annually.
OpenStudy (anonymous):
Got it :) Thank you
OpenStudy (anonymous):
divide by 400 \[13.75=(1.08)^y\] \[y=\frac{\ln(13.74)}{\ln(1.08)}\]
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