Compound interest Solve the compound interest formula A=P\left(1+\frac{r}

Antinazius

Antinazius

Answered question

2021-11-07

Compound interest Solve the compound interest formula
A=P(1+rn)nt
for t by using natural logarithms

Answer & Explanation

Unpled

Unpled

Beginner2021-11-08Added 23 answers

Step 1
Given that the compound interest formula,
A=P(1+rn)nt ..........(1)
Step 2
Take the natural logarithms both sides, ln(A)=ln[(1+rn)nt]
ln(A)=ln(P)+ln(1+rn)nt
ln(A)ln(P)=ntln(1+rn)
nt=ln(A)ln(P)ln(1+rn)
t=1nln(A)ln(P)ln(1+rn)

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