Use the compound interest formula in each of the following to express t in terms of a

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Use the compound interest formula in each of the following to express t in terms of a logarithm by rewriting the exponential equation in logarithmic form. Simplify where possible, but do not evaluate.

a. B = 1500, P = 600, r = 0.005, n = 4

b. B = 800, P = 500, r = 0.012, n = 12

c. B = 1,000,000, P = 800,000, r = 0.02, n = 2

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Financial Algebra Advanced Algebra With Financial Applications

ISBN: 9781337271790

2nd Edition

Authors: Robert Gerver, Richard J. Sgroi

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Question Posted: Sep 12, 2022 03:19 AM

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Use the compound interest formula in each of the following to express t in terms of a

Question:

B = P1+ n nt

Step by Step Answer:

a B P1 rnn P1rn4 1200 62 per year 1 compounded annually equals 1000 or 1000 So 62 compound...View the full answer

Financial Algebra Advanced Algebra With Financial Applications

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