If $2000 is invested at a rate of 12 percent per year, what is the principle after 5 years if the interest is compound quarterly? What is the principle afetr 5 years if the interest is compound quarterly?
Doesnt the compund interest formula contain logarithms?
The formula is where r is the annual rate, t is the number of periods per year, n is the number of years, and P is the principal. So there are no logarithms in the formula.