hi there could anybody solve this compound interest question with the help of log for me for me ? p=100 t=30 years A=100000 R=? given log 2= 0.3010 and log 1259=3.1 Please show me full solution http://mathhelpforum.com/images/smil...106-crying.gif
hi there could anybody solve this compound interest question with the help of log for me for me ? p=100 t=30 years A=100000 R=? given log 2= 0.3010 and log 1259=3.1 Please show me full solution http://mathhelpforum.com/images/smil...106-crying.gif
Hi
The formula for compound interest (when computed continuously over each year) is:
$\displaystyle A=P*e^{Rt}$
$\displaystyle R=\frac{1}{t}\log{\frac{A}{P}}=\frac{1}{30}\cdot \log{1000}=\frac{\log{10}}{10}\approx 0.23026$
Is this what you needed?