Question

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.
My function is A(t)=39146(1+0.03/12)^12t, It would be very nice if someone could through this with me step by step

@joquez14

Answer 1

is this all the info

Answer 2

@DevilInADress are you there

Answer 3

No It's not. I will send it to you. Please give e a sec

Answer 4

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%

Answer 5

and do you know what the variables A(t) mean

Answer 6

Is it the amount the car cost?

Answer 7

yes and t is the months

Answer 8

I'm not sure if it will help but it was said that the answer for this question will be negative. I am guessing because the decrease in months ?

Answer 9

\[10,000=39,145(1+\frac{ .03 }{ 12 }^{12t}\] is your equation now can you solve for t

Answer 10

Can you tell me what to do and I will go from there then check back to see if it is correct ?

Answer 11

first you would divide 39,145 by both sides \[\frac{10,000}{39,145} = (1+\frac{.03}{12})^{12t}\]

Answer 12

n\[.25546= (1+\frac{.03}{12})^{12t}\]

Answer 13

do you know how to log

Answer 14

No idea

Answer 15

so you get an idea read this http://www.mathsisfun.com/algebra/logarithms.html

Answer 16

so after you logged it your answer should be t= -4.605

Answer 17

Would i just type this as my explanation ?

Answer 18

yes just put t = -4.605 and show the steps i did and you should get it right

Answer 19

Okay Thank You. Can you help me with one more ? pretty please?

Answer 20

ill try