Question

Could someone help me with exponential/logarithmic functions? I have a rough idea of what I'm doing, I just need some guidance.

Answer 1

I'm supposed to answer various questions about buying a car using the formula:\[A(t) = P(1+\frac{ r }{ n })^{nt}\]

Answer 2

is this the same problem as before?

Answer 3

Forgive me if I sound rude, but may I ask what you mean?

Answer 4

is this about a car loan for a chevy volt?

Answer 5

No, this is just for an ordinary car with a value of $15,000 and an interest rate of 6%...

Answer 6

ok
what is the question?
btw this is not the formula for any loan
this is the formula for compound interest

Answer 7

for example if you invest \(\%1000\) and \(5\%\) interest compounded monthly, then after \(t\) years you will have
\[P(t)=1000(1+\frac{.05}{12})^{12t}\] dollars

Answer 8

oops i mean if you invest \(\$1000\) !

Answer 9

That's alright! I do have a quick question. I notice you used P(t) instead of A(t). Do they need to be flipped around? I do apologize for asking so many questions. I get confused somewhat easily when it comes to Math of any kind.

Answer 10

no it makes no difference
you could say \(P(t)\) or \(A(t)\) or \(\Xi(t)\) whatever

Answer 11

what is the question for this formula?

Answer 12

I need to find the function in order to know the compounded monthly car payment.

Answer 13

What I've got so far is:
\[A(t) = 15,000(1+ 0.005)^{12t}\]

Answer 14

ok the formula for monthly payments are not at all like this
this is the formula for compound interest
weird that this is the second problem in the last half hour that have this mistake
something weird is going on

Answer 15

Does that look right to you, or did I do something wrong?

Answer 16

what you did was correct for the formula you are using, but i have no idea how you are going to find monthly payments from it

Answer 17

I don't know either, and that's what's confusing me.

Answer 18

\[A(t) = 15,000(1+ 0.005)^{12t}\] is the same as
\[A(t) = 15,000(1.005)^{12t}\]

Answer 19

you can't

Answer 20

I don't need anyone to tell me the answer directly because I want to find it myself, but I don't know how to find the answer.

Answer 21

the payment formula is much more complicated and completely different

Answer 22

May I ask how much different?

Answer 23

the formula you are using
\[A(t)=A_0(1+\frac{r}{n})^{nt}\] is for compound interest

Answer 24

the last formula on the page i just sent is the formula for payments

Answer 25

Number 2 is roughly the one I'm working with now, but I haven't seen the first one at all.

Answer 26

the first one is the same as the second if \(n=1\) i.e. once a year

Answer 27

if \(n=1\) then
\[A_0(1+\frac{r}{n})^{nt}=A_0(1+r)^t\]

Answer 28

Thank you so much! I appreciate your help, and your patience. :) Medal for you, my friend.

Answer 29

thanks, but i am afraid i have not helped at all
still not sure what the question is

Answer 30

It's alright. :) I'm really confused about it myself, but you tried to help me, and that's something I'm very grateful for. When I figure it out and find out if it's correct or not, I'll let you know. Thanks again!