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how to use logarithms in compound interest. This problem requires the use of the compound interest formula This formula applies when interest is earned on an annual basis and the interest is earned once a year. It is called a common logarithm.
Log Application Word Problem Students Word Problems Logarithmic Functions Math Notes from www.pinterest.com
And take the log of both sides. After some basic algebra you have. Compound interest number e and natural logarithm September 6 2013 Compound interest number e and natural logarithm.
This relationship is illustrated by the exponential function and its.
Compound interest If you have money you may decide to invest it to earn interest. 400 1001 n 1 1001 1 400 1001 n 1 0001 400 000 1001 n 1. For example if the principle is. 9250 to amount to 16 56534 at 6 pa.
