|Author||Topic: Mathematics problem|
Do you know how to solve this problem:
1.0605 = (1+(0.0589/m))power m
m = ?
means a monthly compounding frequency rate
Thank you for your reply.
Is it possible for you to show me the working instead of just the answer.
|Another mathematics problem is:
100,000= 35,000 (1 + (5%/12))power 12N
If there is an alpha in the power, I do not know how to turn the power into normal equation to get to the answer.
|Hi Mr Happy!
In doing both level I and level II, I have not come across such a problem.
Your first question puzzled me for a while until I realised, as alex poited out, that 'm' refers to the number of months. (just means the rate calculated is compounded monthly)
Theoretically, the equation can be reduced to a quadratic - i have done it but takes time to explain. Rest assured you won't be required to do this, but I suppose you misinterpreted the question.
Your last question leads me to beleive the following simple algrbra will cover quite a few of your problems...
If K = Y^p, where ^ = power of.
then Y = K^(1/p)
eg. 9 = 3^2, 3 = 9^(1/2).
4 = 2^2