Question

Tired doing several times and keep getting weird answer?

Answer 1

can any one show me steps how to do this so i can see where i went wrong i keep getting 0.6918

Answer 2

2835.48= 2310.72(1+r/2)^10
1.2271 = (1+r/2)^10
1.02067 = 1+ r/2
.02067 = r/2
r = 0.04135

=> 4.1%

Answer 3

@jim_thompson5910

Answer 4

Roberta deposited $4,790.23 into a savings account with an interest rate of 3.8% compounded twice a year. About how long will it take for the account to be worth $9,000?


A = P(1+r/n)^(nt)

9000 = 4790.23(1+0.038/2)^(2t)

solve for t

Answer 5

but i don't understand the logitude part? the in idk how to do it

Answer 6

i'll do what i can and stop where i don't undersstand okay hold on

Answer 7

alright

Answer 8

9000 = 4790.23(1+0.038/2)^(2t)
9000=4790.23(1+0.038/2)^2t
----- --------
1.8788=1.019^2t
1.8788=1.0383t
t=1.8094??

Answer 9

no it's much more than 1.8 years

Answer 10

i know next i have to do a proportion that idk how to do

Answer 11

A=P(1+r/n)^(n*t)


9000=4790.23(1+0.038/2)^(2*t)


9000=4790.23(1+0.019)^(2*t)


9000=4790.23(1.019)^(2*t)


9000/4790.23 = (1.019)^(2*t)


(1.019)^(2*t) = 9000/4790.23


(1.019)^(2*t) = 1.87882


log( (1.019)^(2*t) ) = log( 1.87882 )


2t*log( 1.019 ) = log( 1.87882 )


2t = log( 1.87882 )/log( 1.019 )


2t = 33.506118


t = 33.506118/2


t = 16.753059


t = 16.75


t = 16+0.75 years


t = 16 years + 0.75 years


t = 16 years + 0.75*12 months


t = 16 years + 9 months


t = 16 years, 9 months

Answer 12

The key to solving for t, which is in the exponent, is to use logs to isolate it

Answer 13

A=P(1+r/n)^(n*t)

A=7775(1+0.045/n)^(n*14)


Now plug in n = 365. If you get 14,398.87 for A, or close enough to it, then the answer is "daily". If not, then move onto n = 12, n = 4, and n = 1 until you find your answer.

Answer 14

for 365 i got 12960.26204

Answer 15

you should have gotten A = 14597.86 when n = 365

Answer 16

try it again

I recommend using a graphing calculator and using the table if you can

Answer 17

ohh i got it its 14597.85537

Answer 18

so its daily

Answer 19

yep, it's daily

Answer 20

oh i get it 365=daily
12=monthly
1-yearly
quartly=4
right?

Answer 21

yep n = 365 means you compound 365 days a year (assuming not a leap year)

Answer 22

ie you compound 365 times a year

Answer 23

n = 4 means you compound 4 times a year, etc etc

Answer 24

it wasn't daily check what went wrong