Solving Exponential Equations with Unequal Bases question. I have it almost completely figured out but I'm stuck at the end. The question is: You are going to purchase a new car, but being a responsible consumer means doing a little bit of research first. First, you find the vehicle you are purchasing and its price. Vehicle: Chevy Volt Price: $39,145 Current interest rate: 3% Using the function A(t)=P(1+r/n)^nt create the function that represents your new car loan that is compounded monthly.
With due respect Welcome to Open Study ............. Sir/Ma'am @zachfluke12
I already got that part. It is A(t)= 39,145 (1 + .03/12) ^12t. The next part of the question is: Being a smart financial planner, you want to figure out how many months it will be until your principal is paid down to $10,000.00. Solve for t and show all of your work. Note that t will be negative because the number of months will decrease the principal. I got this answer too. Its about -45.62≈ t. The final part of the question is where I'm stuck though. I'll attach it because I'm not sure how to type the equation correctly.
Thanks @goformit100
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