Question

Help with logarithm, please?

Answer 1

@SolomonZelman @ganeshie8 @thomaster Anyone?

Answer 2

question ?

Answer 3

Okay, here is the general info...

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 4

Using the function \[A(t)=P(1+\frac{ r }{ n })^{nt}\], create the function that represents your new car loan that is compounded monthly. The principle will be the price of the vehicle you selected, not how much you are putting down.

Answer 5

okay and they already gave u the formula right

Answer 6

yes
r= interest rate = first divide 3/100 the answer r u get is r
P= principle
t = time or month
"COMPOUNDED MONTHLY" so n =12

Answer 7

so just replace variables by their values

Answer 8

What do you mean principle?

Answer 9

Oh wait got it.

Answer 10

principle price (initial amount )

Answer 11

Wait what would I put for t? I know it's time.

Answer 12

A(?)=39,145(1+.03/12)^12(?)

Answer 13

there suppose to be more information ??

Answer 14

They don't provide the time period. So I guess I should leave it blank. IT does ask to find out the time period in the following question!

Answer 15

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.

Answer 16

i guess you have to solve for t

Answer 17

So I should just leave t alone in the question one?

Answer 18

oh just read last paragraph where they gave you 10,000.00 that is your A(t)

Answer 19

Shoot I'm confused! What's my equation?

Answer 20

so equation is \[\huge\rm 10000 = 39145 ( 1+ \frac{ .03 }{ 12 })^{12t}\] so yes solve for t

Answer 21

you nneed to find how many month its gonna take to get 10000

Answer 22

Ohh okay. Got it! Let's see...

Answer 23

yep .....

Answer 24

What about A? Or it A(t) a combination to create 10,000?

Answer 25

A(t) is same as y
so A(t) = 10000

Answer 26

Oh okay. I solved for t but my solution is positive, it's suppose to be negative.

Answer 27

okay what did you get

Answer 28

t≈284.26117508

Answer 29

did you use calculator ??

Answer 30

Oh wait I see where I went wrong!

Answer 31

After the first equation, we then have...

Answer 32

Sorry the equation function wasn't working, here's a screen shot...

Answer 33

ohh that's very confusing.................

Answer 34

i would like to do step by step or you just can put into the calculator

Answer 35

divide both side by 39145