Thursday, April 6, 2017

(1+0.09/12)^(12t) = 3 Solve the equation accurate to three decimal places

(1+0.09/12)^(12t) = 3
In solving these kind of problems we need to use the logarithm.
Take the log of both sides of the equation.
log_(10)((1+0.09/12)^(12t)) = log_10(3)
With logarithms we know that;
log(a^b) = bloga
using that rule;
log_(10)((1+0.09/12)^(12t)) = 12tlog_10(1+0.09/12)
 
12tlog_10(1+0.09/12) = log_10(3)
 
log_10(1+0.09/12) = log_10(1.0075) = 0.003245
log_10 (3) = 0.4771
 
12txx0.003245 = 0.4771
t = 0.4771/(12xx0.00325) = 12.252
 
So the answer is t = 12.252
 
https://en.wikipedia.org/wiki/Logarithm

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