#1
Determine the annual interest rate for a principal of $1000.00 to yield an amount of $1500.00 in five years time, if the rate is compounded annually/compounded monthly .


This isnt a hard question, but for some reason it doesnt work for me, so people good at math have at it
#2
Really, ask yahoo or something. These people will just tell you to rape your sister...
#3
Wow. O_o

I remember learning about this in Grade 11 math, and I don't remember a single thing.
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#4
Wow. O_o

I remember learning about this in Grade 11 math, and I don't remember a single thing.[/QUOTE

wtf its summer....

and this is the pit u know?
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#5
First set up the non homogeneous differential equation and derive the characteristic equation. Solve for r and then find y3 = C1y1 + C2y2. Then solve for the particular solution. Add this to y3 to find the final answer y. Then solve for initial values.
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Last edited by yoshixxx7 at Aug 2, 2008,
#7
geometric sequence.

a.r^n-1

where n=5+1, since first term is without any changes.
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#8
use that formula P = e^(rt) or watever...... P meaning the change in money over time..... e is that number 2.71 somin..... r is the interest..... t is the time in some unit im not sure of..... this is just a guess from memory, but i figure its right for some related question, if not this one
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#10
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OW OW OW EFFIN OW!!
sorry i just had an enyurism [brain explosion, i dont remember how to spell it.]

I would expect you to have difficulties spelling after a brain aneurysm.
Quote by FrenchyFungus
Hey y'all!!! Me and my friend were over at her house. I we were wonder what guys think when they see a hot girl at the mall or whatever walk by. (We're both pretty as y'all would say "blonde" sometimes).


Quote by rabidguitarist
I just look like some homo.
#11
Quote by yoshixxx7
First set up the non homogeneous differential equation and derive the characteristic equation. Solve for r and then find y3 = C1y1 + C2y2. Then solve for the particular solution. Add this to y3 to find the final answer y. Then solve for initial values.

why do i almost want to say this works...i've taken ODEs, and for fuck's sake, PDEs, and i still can't quite make sense of it in this context...

*sigh* guess i should brush up on ODEs again, considering i'll be tutoring it next year
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Last edited by phobos at Aug 2, 2008,
#12
1500=1000(1+interest rate)^5
1500=1000(1+interest rate)^5*12

actually
#14
Quote by soulflyV
Isn't it something to do with growth/decay rates, i.e. A = Aoe^kt ?

monthly and annual compounds are discrete compounds. use of the exponential function implies continuous (non-discrete) compounding. but yeah, rates in general...

really though, without using an ODE, simply put...i know there's very explicit equations for this, with parameters for Rate, Compound Frequency, Principal, and the variable Time. look for those in your book somewhere...it's simple plug and chug from there. a little common sense could probably derive you the equation in a few minutes...but seeing as this isn't MY homework and i don't particularly want to put the time into it, you can do that yourself
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I like:

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Misfits and AC/DC Covers + original recordings (jazz/punk, hardcore, "shredish").
http://advancederror.dmusic.com
Last edited by phobos at Aug 2, 2008,