compounding -solve for time | Mathematics | Page 1

last willow Apr 11, 2024, 6:55 AM

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How do I do these types of questions, I get really stuck on knowing what numbers to use for the compounding rate because I know if it’s quarterly you use four but I don’t know about daily or continuously. Also the log section really terrifies me because it looks mad complicated, can someone help me please!!! 🩷

drowsy pythonBOT Apr 11, 2024, 6:55 AM

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last willow How do I do these types of questions, I get really stuck on knowing what numbers...

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latent raptor Apr 11, 2024, 7:03 AM

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do you know the compound interest formula?

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A = P(1 + r/n)^(nt)?

last willow Apr 11, 2024, 7:36 AM

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latent raptor A = P(1 + r/n)^(nt)?

yup!

latent raptor Apr 11, 2024, 7:43 AM

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last willow yup!

apply it

last willow Apr 11, 2024, 7:45 AM

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i know but for the n what do i use? cuz it says continuously unlike when it says quarterly so you obviously have to use four. so like what do i use in this scenario

rapid holly Apr 11, 2024, 7:50 AM

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last willow i know but for the n what do i use? cuz it says continuously unlike when it say...

it doesn't say continuously in the image you sent
if it ever does say continuously, this can be considered as when n is infinity, it is constantly compounding
and we can find via math that as n gets higher the function gets closer to A = P*e^(rt)

last willow Apr 11, 2024, 7:51 AM

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rapid holly it doesn't say continuously in the image you sent if it ever does say continuous...

i mean annually sorry about that TT

rapid holly Apr 11, 2024, 7:51 AM

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oh

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annually means once a year

last willow Apr 11, 2024, 7:52 AM

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okay ty and what would the one for daily be?

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sorry for the dumb questions i just wanted to make sure because if i get it wrong i cant redo it lol

rapid holly Apr 11, 2024, 7:53 AM

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last willow okay ty and what would the one for daily be?

what do you think

last willow Apr 11, 2024, 7:57 AM

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Nvm I just searched I up ty

#compounding -solve for time