If you borrow $3,000 on an 8% discounted loan for 9 months, how much will you actually receive?
1 answer:
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Answer:
p(t) = 0 for t = 1
p(t) = 1 for t = 1/8 = 8^-1
Step-by-step explanation:
the graph you will have to do yourself.
just go there and type in
well, don't type "log" in letters.
you start by typing the "-" sign, and then you need to look up the functions by clicking on the "funcs" button and look for the log functions .
pick the
option. and then simply enter 8 as the first parameter in the {} brackets and x as the second in the () brackets.
and then you see.
any logarithm is 0 for x (or t) = 1.
because any a⁰ = 1.
and the logarithm gives you that exponent of the base number that leads to the given x value.
in other words : a logarithm is the inverse function of an exponential function.
the exponential function is
y = a^x
and the logarithm then determines
that is all.
and
means that the logarithm itself delivered -1.
and 8^-1 = 1/8
so, p(t) = 1 for t = 1/8