Question

Please! $15,000=$7,500(1+.0015/12)^12t... solve for "t"

Answer 1

\[\large 15000=7500(1+0.0015)^{12t}\rightarrow 2=(1.0015)^{12t} \]

Answer 2

so to solve for t:

Answer 3

\[\large ln2=(12t)(ln1.0015) \]
can you take it from here?

Answer 4

what's "ln"?

Answer 5

natural log...

Answer 6

logarithm base e

Answer 7

you really don't need ln... you can use common log.. log base 10

Answer 8

I have not learned that yet... so I have no idea what to do after that :/

Answer 9

how about common logs? log base 10?

Answer 10

I don't know :(

Answer 11

hmmm... that's strange that you're asked to solve for "t" without knowing about logarithms.

Answer 12

it's an online class :/

Answer 13

oh... so did the class go through logarithms?

Answer 14

no

Answer 15

is it an online math class or online business class?

Answer 16

Advanced Math with Financial Applications

Answer 17

hmm... seeing those words advanced and financial makes me think they're assuming you already know about logarithms...

Answer 18

I don't

Answer 19

the only thing i can tell you here is that in order to solve for t in your question, you'll need to use logarithms...:(

Answer 20

Well can you at least tell me how to input it in my calculator or something? or the link to a website that can teach about logarithms?

Answer 21

sure...:)
let's solve for t first on that last line I left you with...

Answer 22

\[\large ln2=(12t)(ln1.0015)\]
\[\large \frac{ln2}{12ln1.0015}=t\]

Answer 23

ok... you have your calculator?

Answer 24

do you see a "ln" button?

Answer 25

or "log" button?

Answer 26

yes

Answer 27

it doesn't matter which one you use... "ln" or "log"

Answer 28

what did you get?

Answer 29

I don't think its the right answer considering t stands for time :/... .000086578

Answer 30

no.... i got something else...

Answer 31

does your calculator allow you to use parenthesis?

Answer 32

yes

Answer 33

good...
make sure you enter: (ln2)/(12*ln1.0015)

Answer 34

38.54?

Answer 35

yep... that's what i got...:)

Answer 36

YESSS! Thank you soo much!!!

Answer 37

yw...:)

Answer 38

you have a kweschun?

Answer 39

You know how the original formula was : 15,000 = 7,500 (1 + .0015/ 12) ^12t... Well I'm writing it in my report and I saw we solved the logarithm of 1.0015 instead of 1.000125 which is the (1 + .0015/ 12) part :/

Answer 40

\[\large 15000=7500(1+\frac{0.0015}{12})^{12t}\rightarrow 2=(1.0013)^{12t} \]

Answer 41

\[\large 15000=7500(1+\frac{0.0015}{12})^{12t}\rightarrow 2=(1.00013)^{12t} \]

Answer 42

Ok I did the same thing ... now I got 462 years? roughly?

Answer 43

i got 444.354 years

Answer 44

Ok I used 1.000125 not 1.00013 ... would that matter?

Answer 45

haha...yours is more accurate...:)

Answer 46

I'm ok with that haha, thanks again!

Answer 47

yw...:)