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Interest rate is i per annum. Begin with $100 in a bank account. The money accumulates for two years and then $50 is withdrawn. How many more years are needed for the amount | Interest rate is i per annum. Begin with $100 in a bank account. The money accumulates for two years and then $50 is withdrawn. How many more years are needed for the amount in the account to accumulate to $200? (The answer should be a function of i.) | ||
in the account to accumulate to $200? (The answer should be a function of i.) | |||
<ul class="mw-excansopts"> | |||
<li><math display = "block"> \frac{\log(2)}{\log(1+i)} -1.5</math></li> | |||
<li><math display = "block">\frac{\ln (200)-\ln \left(100(1+i)^2-50\right)}{\ln (1+i)} </math></li> | |||
<li><math display = "block">\frac{\ln (150)-\ln \left(100(1+i)^2\right)}{\ln (1+i)}</math></li> | |||
<li><math display = "block">(\frac{200}{50 + 200i}-1)/i</math></li> | |||
<li><math display = "block">\frac{\ln(2)}{1+i}-2</math></li> | |||
</ul> | |||
'''References''' | '''References''' | ||
{{cite web |url=https://web2.uwindsor.ca/math/hlynka/392oldtests.html |last=Hlynka |first=Myron |website=web2.uwindsor.ca | title = University of Windsor Old Tests 62-392 Theory of Interest | access-date=November 23, 2023}} | {{cite web |url=https://web2.uwindsor.ca/math/hlynka/392oldtests.html |last=Hlynka |first=Myron |website=web2.uwindsor.ca | title = University of Windsor Old Tests 62-392 Theory of Interest | access-date=November 23, 2023}} | ||
Latest revision as of 13:17, 26 November 2023
Interest rate is i per annum. Begin with $100 in a bank account. The money accumulates for two years and then $50 is withdrawn. How many more years are needed for the amount in the account to accumulate to $200? (The answer should be a function of i.)
- [[math]] \frac{\log(2)}{\log(1+i)} -1.5[[/math]]
- [[math]]\frac{\ln (200)-\ln \left(100(1+i)^2-50\right)}{\ln (1+i)} [[/math]]
- [[math]]\frac{\ln (150)-\ln \left(100(1+i)^2\right)}{\ln (1+i)}[[/math]]
- [[math]](\frac{200}{50 + 200i}-1)/i[[/math]]
- [[math]]\frac{\ln(2)}{1+i}-2[[/math]]
References
Hlynka, Myron. "University of Windsor Old Tests 62-392 Theory of Interest". web2.uwindsor.ca. Retrieved November 23, 2023.