Do you mean the following:
log(5^(4/7))=around 0.4
log(5)^(4/7)=around 0.815
log(5^4)/7= same thing as top one
log((5^4)/7)=around 1.95
Answer:
The principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.
Step-by-step explanation:
Given
- Accrued Amount A = $1000000
- Interest rate r = 6% = 0.06
- Compounded monthly n = 12
To determine:
Using the formula


substituting A = 1000000, r = 0.06, t = 45, and n = 12


$
Therefore, the principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.