Results 1 to 7 of 7

Math Help - Problemo

  1. #1
    Junior Member
    Joined
    Mar 2008
    Posts
    51

    Problemo

    When a child is born you put a sum of money to the account so that the child can lift 17000 when she is 18 How much have you put in the first time if the intrest is 6%???
    Follow Math Help Forum on Facebook and Google+

  2. #2
    Grand Panjandrum
    Joined
    Nov 2005
    From
    someplace
    Posts
    14,972
    Thanks
    4
    Quote Originally Posted by Rambo View Post
    When a child is born you put a sum of money to the account so that the child can lift 17000 when she is 18 How much have you put in the first time if the intrest is 6%???
    Let the original sum be x

    The sum after 1 year is 1.06 \times x

    After 2 years 1.06 \times (1.06 \times x)=1.06^2 ~x

    After 3 years 1.06 \times (1.06^2 ~ x)=1.06^3 ~x

    After N years 1.06 \times (1.06^{n-1} ~ x)=1.06^N ~x


    So the fund has 1.06^{18} ~x=17000 on the girls 18th birthday, now solve for x.

    (This is an initial sum of x compounded annulaly for 18 years at a rate of 6%)

    RonL
    Follow Math Help Forum on Facebook and Google+

  3. #3
    Junior Member
    Joined
    Mar 2008
    Posts
    51
    i dont know how to solve help anyone
    Follow Math Help Forum on Facebook and Google+

  4. #4
    Grand Panjandrum
    Joined
    Nov 2005
    From
    someplace
    Posts
    14,972
    Thanks
    4
    Quote Originally Posted by CaptainBlack View Post
    Let the original sum be x

    The sum after 1 year is 1.06 \times x

    After 2 years 1.06 \times (1.06 \times x)=1.06^2 ~x

    After 3 years 1.06 \times (1.06^2 ~ x)=1.06^3 ~x

    After N years 1.06 \times (1.06^{n-1} ~ x)=1.06^N ~x


    So the fund has 1.06^{18} ~x=17000 on the girls 18th birthday, now solve for x.

    (This is an initial sum of x compounded annulaly for 18 years at a rate of 6%)

    RonL
    Quote Originally Posted by Rambo View Post
    i dont know how to solve help anyone
    If you can't do basic algebra you are in trouble, in this case I will show you

    x=\frac{17000}{1.06^{18}}

    Now its just a job for your calculator.

    RonL
    Follow Math Help Forum on Facebook and Google+

  5. #5
    Junior Member
    Joined
    Mar 2008
    Posts
    51
    i solved it already its 17000*(1.06)^-18=


    thats much easier than your suggestions
    Follow Math Help Forum on Facebook and Google+

  6. #6
    Grand Panjandrum
    Joined
    Nov 2005
    From
    someplace
    Posts
    14,972
    Thanks
    4
    Quote Originally Posted by Rambo View Post
    i solved it already its 17000*(1.06)^-18=


    thats much easier than your suggestions
    No its not, its the same thing, except more key stokes

    RonL
    Follow Math Help Forum on Facebook and Google+

  7. #7
    Grand Panjandrum
    Joined
    Nov 2005
    From
    someplace
    Posts
    14,972
    Thanks
    4
    Quote Originally Posted by Rambo View Post
    i solved it already its 17000*(1.06)^-18=


    thats much easier than your suggestions
    This post is sailing close to the wind, this is verging on the insulting.

    If someone attempts to help you, gratitude is the correct response not distain.

    RonL
    Follow Math Help Forum on Facebook and Google+

Similar Math Help Forum Discussions

  1. Trig word problemo
    Posted in the Trigonometry Forum
    Replies: 1
    Last Post: December 4th 2009, 07:13 AM
  2. Circle Problemo!
    Posted in the Calculus Forum
    Replies: 4
    Last Post: October 9th 2009, 06:36 AM
  3. Logarithm Problemo
    Posted in the Algebra Forum
    Replies: 7
    Last Post: October 3rd 2009, 03:00 AM
  4. Graphing and integration problemo
    Posted in the Calculus Forum
    Replies: 2
    Last Post: September 14th 2008, 07:00 AM
  5. Problemo
    Posted in the Algebra Forum
    Replies: 2
    Last Post: July 1st 2006, 07:56 AM

Search Tags


/mathhelpforum @mathhelpforum