Math Help... x(

[Kappy]

So I have a math test tomorrow and I need to pass this test to bring my grade up. We were studying for it at school, but time ran out so she couldn't help me.
Help Please? It's about growth factor and rates or something like that. I catch on fast but I don't remember how to do this. ):

1. Suppose you deposite $1,000 in a savings account that earns interest of %6 per year on the current balance account.

a. If you leave your money in the account for 10 years, what will the
value of your investment be at the end of the 10 years?

b. write equation relating the variables. ( I think the formula for this is y= a(b^x) is what we learned )

 

[The_Empire]

a. I think is 1600

 

[Akiza]

Well for the first one, its basically adding your interest to what you deposited.

Interest= P (forget what it stands for, but for this one it's $1000) * R=Rate (6% per year) * T=Time (10 years)

So basically multiply $1000 by .06 (6%) and 10. There you have your interest.

Then you add it to the original investment, $1000, and there's your answer for a.

As for b, eh....I didn't really understand that part, but the formula for interest (which is what you had to do for a to get your answer) is I=PRT, and then u just add that to your original investment to get the answer for a, which I'm guessing are the variables you need to relate...I really didn't get that one so yeh. xd

 

[Midori]

Hey there!

So to start with b, bc you need that to find a, the equation you would want to use for this type of problem is as follows:

T = P(1+r)^t

where T is total money, P is principal (amount invested), r is rate (in decimal form), and t is time (in years).

Then for a you just plug your numbers into that formula:
T= 1000(1+0.06)^10= $1790.85

Good luck on your test!

 

[Emperor]

From what you're saying I think you mean Compound interest, so see this link

You must be registered for see links

 

[Akiza]

yeh...u need to specify which type of interest it is....simple or compound. i did simple, emp and midori did compound i think xd

 

[Kappy]

i think its simple

 

[Akiza]

well if its simple, then go with what i said. if its compound, which im guessing it is, due to the way the formula you have is made, then go with what emp and midori gave you.

 

[BlacKing]

So I have a math test tomorrow and I need to pass this test to bring my grade up. We were studying for it at school, but time ran out so she couldn't help me.
Help Please? It's about growth factor and rates or something like that. I catch on fast but I don't remember how to do this. ):

1. Suppose you deposite $1,000 in a savings account that earns interest of %6 per year on the current balance account.

a. If you leave your money in the account for 10 years, what will the
value of your investment be at the end of the 10 years?

b. write equation relating the variables. ( I think the formula for this is y= a(b^x) is what we learned )

If I'M not mistaken, it should look more like a(b*x)
which is the equivalent of 1000(10*0.06)

The problem you run into is if they are counting the money added before the interest each year or the money after. Meaning are they going to included the added interest into the amount that rolls over into the next year.

Ok here we go. %6 of $1000 is $60. Making total for the end of the yr1 $1060

Now if it keeps going like this, meaning you for the second year its going to look like this.
%6 of $1060 is $63.60. Making the total for the end of yr 2 $1123.60

Then you can keep taking %6 of 1000 and keep adding the interest and doing it again.

If this is not the case, the you simply do it the one time, muiltiply the initial interest ($60) by 10, giving you $600, which you would then add to the $1000, making it $1600 like Deidara said.

1 years. 1060.00
2 years. 1123.60
3 years. 1187.20
4 years. 1258.43
5 years. 1333.93
6 years. 1413.96
7 years. 1498.79
8 years. 1588.71
9 years. 1684.03
10 year. 1785.07
--------------------------------------------
If I had to guess, I would say the first depending on what grade you are in. If your in like 11th grade or 12th, I would say the second.

Hope I helped and didnt confuse you much.

 

[BlacKing]

Hey there!

So to start with b, bc you need that to find a, the equation you would want to use for this type of problem is as follows:

T = P(1+r)^t

where T is total money, P is principal (amount invested), r is rate (in decimal form), and t is time (in years).

Then for a you just plug your numbers into that formula:
T= 1000(1+0.06)^10= $1790.85

Good luck on your test!

Lmao, damn, I did that sh1t in my head and was about 5 dollars off. I'm slipping lol.

 

[Midori]

Lmao, damn, I did that sh1t in my head and was about 5 dollars off. I'm slipping lol.

well considering i had no prayer of doing that without my handy dandy calculator, i think you did quite well xd

 

[Kappy]

If I'M not mistaken, it should look more like a(b*x)
which is the equivalent of 10(1000*0.06)

The problem you run into is if they are counting the money added before the interest each year or the money after. Meaning are they going to included the added interest into the amount that rolls over into the next year.

Ok here we go. %6 of $1000 is $60. Making total for the end of the yr1 $1060

Now if it keeps going like this, meaning you for the second year its going to look like this.
%6 of $1060 is $63.60. Making the total for the end of yr 2 $1123.60

Then you can keep taking %6 of 1000 and keep adding the interest and doing it again.

If this is not the case, the you simply do it the one time, muiltiply the initial interest ($60) by 10, giving you $600, which you would then add to the $1000, making it $1600 like Deidara said.

1 years. 1060.00
2 years. 1123.60
3 years. 1187.20
4 years. 1258.43
5 years. 1333.93
6 years. 1413.96
7 years. 1498.79
8 years. 1588.71
9 years. 1684.03
10 year. 1785.07
--------------------------------------------
If I had to guess, I would say the first depending on what grade you are in. If your in like 11th grade or 12th, I would say the second.

Hope I helped and didnt confuse you much.

Thats the same thing the teacher said but i forgot and so i didnt know how to do it.
Btw Im in 8th xd

Thanks everyone for helping.

 

[BlacKing]

well considering i had no prayer of doing that without my handy dandy calculator, i think you did quite well xd

xd thanks. I think I rounded down instead of up when I got to the thousandths. I hate when i do that.

Thats the same thing the teacher said but i forgot and so i didnt know how to do it.
Btw Im in 8th xd

Thanks everyone for helping.

EIGHT GRADE?!!!!!!!!!!! I didn't think you were that young Yoko. You act older sometimes. And where do you go to school that they are teaching interest in 8th grade? Wish I woulda went there. .

And no problem. Tell you what. I know you probably wont like this, but do it both ways. And the first formula should be 1000(10*.06) sorry I messed it up. use Midori's for the second.

having the formula makes it quicker. AND a calculator. lmao. my head hurts now. think imma go to sleep for a bit. lol.

 

[JR4040]

4+4 dog thats a chickenwing! (gucci mane)

 

[ZK]

xd thanks. I think I rounded down instead of up when I got to the thousandths. I hate when i do that.



EIGHT GRADE?!!!!!!!!!!! I didn't think you were that young Yoko. You act older sometimes. And where do you go to school that they are teaching interest in 8th grade? Wish I woulda went there. .

And no problem. Tell you what. I know you probably wont like this, but do it both ways. And the first formula should be 1000(10*.06) sorry I messed it up. use Midori's for the second.

having the formula makes it quicker. AND a calculator. lmao. my head hurts now. think imma go to sleep for a bit. lol.

Ha, this is why i don't participate like you, Jinbei, and Toku does, when Yoko's doing striptease... U_U

 

[Dragon Lord]

So I have a math test tomorrow and I need to pass this test to bring my grade up. We were studying for it at school, but time ran out so she couldn't help me.
Help Please? It's about growth factor and rates or something like that. I catch on fast but I don't remember how to do this. ):

1. Suppose you deposite $1,000 in a savings account that earns interest of %6 per year on the current balance account.

a. If you leave your money in the account for 10 years, what will the
value of your investment be at the end of the 10 years?

b. write equation relating the variables. ( I think the formula for this is y= a(b^x) is what we learned )

its similar to logarithm, the answer is:

a) $1,000 x 1,06^10 = 1790,85 $ in ten years!

b) depends on what ur studying right now, because this could be done in number of ways!, if your studying logarithm, then the formula is this:

A x B^x

(note, the x in the middle is a square sign, but the last x, is an actual X!)

hope that helped!

 

[BlacKing]

Ha, this is why i don't participate like you, Jinbei, and Toku does, when Yoko's doing striptease... U_U

O.O I have no clue of what you are talking sir. U_U

 

[BlacKing]

its similar to logarithm, the answer is:

a) $1,000 x 1,06^10 = 1790,85 $ in ten years!

b) depends on what ur studying right now, because this could be done in number of ways!, if your studying logarithm, then the formula is this:

A x B^x

(note, the x in the middle is a square sign, but the last x, is an actual X!)

hope that helped!

Um.....I don't know if you noticed or not, but about 2 or 3 other people, myself incuded, already posted this like 2 days ago. Why would you do it again?

 

[Dragon Lord]

Um.....I don't know if you noticed or not, but about 2 or 3 other people, myself incuded, already posted this like 2 days ago. Why would you do it again?

because i didnt go around reading all those boring posts including mine! - i only came here to help! - she needed an answer, and i give it to her! - regardless of what others might have written! - so pardon me if i didnt care enough to read all the previous posts before answering!!

 

[Kappy]

xd thanks. I think I rounded down instead of up when I got to the thousandths. I hate when i do that.



EIGHT GRADE?!!!!!!!!!!! I didn't think you were that young Yoko. You act older sometimes. And where do you go to school that they are teaching interest in 8th grade? Wish I woulda went there. .

And no problem. Tell you what. I know you probably wont like this, but do it both ways. And the first formula should be 1000(10*.06) sorry I messed it up. use Midori's for the second.



having the formula makes it quicker. AND a calculator. lmao. my head hurts now. think imma go to sleep for a bit. lol.

I'll pm it to you

its similar to logarithm, the answer is:

a) $1,000 x 1,06^10 = 1790,85 $ in ten years!

b) depends on what ur studying right now, because this could be done in number of ways!, if your studying logarithm, then the formula is this:

A x B^x

(note, the x in the middle is a square sign, but the last x, is an actual X!)

hope that helped!

THAT'S WHAT WERE DOING!!! =D
But I probably faield t because I didn't know how to do it. T_T

Um.....I don't know if you noticed or not, but about 2 or 3 other people, myself incuded, already posted this like 2 days ago. Why would you do it again?

Lol