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Math Help - calculating the number of compounding periods

  1. #1
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    calculating the number of compounding periods

    Rounded to the nearest month, how long will it take a town's population to:

    b) Shrink from 40,000 to 32,500 if the annual rate of decline is 3?

    PV = 40,000
    FV = 32,500
    n1 = 0.03/1

    n = IN ( FV / PV ) / IN ( 1 + i ) In ( 32,500 / 40,000 ) / In ( 1 + 0.3 )

    n = - 7.0246 however the answer is 6 years and 10 months

    how did they get that ?
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  2. #2
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    Quote Originally Posted by diehardmath4 View Post
    how did they get that ?
    By using (1 - .03)
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  3. #3
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    nope i'm still getting -7.02
    Last edited by diehardmath4; March 15th 2010 at 07:52 AM. Reason: typo
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  4. #4
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    Log(32500/40000) / Log(.97) = 6.817...or ~6 years 10 months

    log(32500/40000)/log(.97) - Google Search=
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  5. #5
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    calculating the number of compounding periods ( urgent )

    $7500 was borrowed for a 4 year term at 9% compounded quarterly.The terms of the loan allow prepayment of the loan based on discounting the loan's maturity value at 7% compounded quarterly How long ( to the nearest day ) before the maturity date was the loan prepaid if the payout amount was $9380.24 including accrued interest ? for the puropese of determining the number of days in a partial calendar quarter, assume that a full quarter has 91 days.

    FV = 9380.24
    PV = 7500
    n =
    i = ( confused on )
    n = ?

    because of the 7% ccompounded quarterly and 9 % compounded quarterly both of them threw me off so i am stuck
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  6. #6
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    Look, you were told (I think twice already) to start a new thread
    if you have a new problem.

    Please do so with this problem.
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  7. #7
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    i realize my mistake sorry i reposted it somewhere else
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