What is the total amount in an account after 3 years if the interest is compounded annually on an amount of $3200 at 4%?
1 answer:
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Use this property of logarithms:
Your equation transforms into:
Now, you have to apply the definition of a logarithm to express the equation in exponential form:
In case you don't remember, this is the definition of a logarithm:
The log is the exponent (y) you have to raise the base (b) to in order to get the power (x).
Finally, solve the rational equation:
The correct answer is d.
Your equation transforms into:
Now, you have to apply the definition of a logarithm to express the equation in exponential form:
In case you don't remember, this is the definition of a logarithm:
The log is the exponent (y) you have to raise the base (b) to in order to get the power (x).
Finally, solve the rational equation:
The correct answer is d.