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Math Help - Algebra word problems

  1. #1
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    Algebra word problems

    I took advanced applied calculus last semester and i am feeling mighty stupid right now. My girlfriend is talking college algebra 121 as a independent study. We can't figure out this problem, can anyone help? Its just on the tip of my mind, but i don't remember how to do it! Please someone help me.
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  2. #2
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    Re: Algebra word problems

    Your message is far longer than the problem, though you managed to write it by your own - would you like to post the problem in a more readable way (so we don't need to turn clockwise our screens/laptops)
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  3. #3
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    Re: Algebra word problems

    let x = loan @19%
    1000000-x @ 16%
    minimum return 18%

    x(1.19) + 1000000 -x(1.16)=1.18(1000000)
    solve for x and 1000000-x
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  4. #4
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    Re: Algebra word problems

    "let x = loan @19%
    1000000-x @ 16%
    minimum return 18%

    x(1.19) + 1000000 -x(1.16)=1.18(1000000)
    solve for x and 1000000-x"

    This doesn't make sense to me.

    1.19x + 1,000,000-1.16x = 1.18(1000000)
    1.03x +1,000,000 = 1180000
    1.03x = 180000
    x=174757.2816

    Okay so now it does make sense to me as far as the answer goes. But can you explain why your using 1.19 and 1.16 instead of .19 and .16? That's what confuses me

    EDIT: I am still confused on why its 1.03 instead of .03? I know that the correct answer is 1.03, but i dont know how to get there. 1.19-1.16 is .03. Please elaborate for me
    Last edited by UllrichNumber7; June 19th 2013 at 07:30 PM.
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  5. #5
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    Re: Algebra word problems

    A dollar invested today at 18% annual interest is worth 1.18 dollars 1 year hence.For longer terms the capital recovery factor is (1+i)^n where n is years and i is the fractional interest
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