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-   -   A Math Problem...Part 2 (http://metaltabs.com/forum/showthread.php?t=20481)

Kalmahswamp 2005-04-26 16:11

A Math Problem...Part 2
 
A spin off of FBS's thread wanted to know who'd be able to solve this...

Let's say you invest $100 in an account that is continiously compounding its interest. The rate of increase is 6%. How much will be in your account after 1 year.

Half credit if you get how much will be in your account after a year of just compounding interest (not continuously).

:tomato:

Kalmahswamp 2005-04-26 16:12

Oh...Round to the nearest Cent mind you (and this is American Dollars...USD)

BlackRoseImmortal 2005-04-26 16:13

I can get the compounding interest - ????. Maybe if I knew what continuously compounding was...

Kalmahswamp 2005-04-26 16:14

Hah edit that answer out...so no one sees it...just PM me with your answer

BlackRoseImmortal 2005-04-26 16:21

It's simple maths.

shimbolla 2005-04-26 16:25

A math problem? What the hell are you trying to do, cause all three of my brain cells to explode simultaneously? :bawling:

Kalmahswamp 2005-04-26 16:25

Continuously compounding is similar to compounding, but its more like its growing every second or so instead of at one time. Continuously compounding will give you a larger number than just compounding and it varies directly with time (so it'll keep rising).

far_beyond_sane 2005-04-26 17:52

Am I allowed to answer this? Probably should not. Let's wait and see first, shall we?

Zionist 2005-04-26 18:29

Cow, moo.

Kalmahswamp 2005-04-26 19:10

Quote:
Originally Posted by far_beyond_sane
Am I allowed to answer this? Probably should not. Let's wait and see first, shall we?

Go for it...just don't post your answer :p

BeastOfCarrion 2005-04-26 19:36

Quote:
Originally Posted by Kalmahswamp
Oh...Round to the nearest Cent mind you (and this is American Dollars...USD)

Why would what currency it is in matter?

I am too lazy to do it now, I may consider it tomorrow after I have finished some more important work, though If i remember rightly I will be endevouring to recall some year 9 maths. (Or year 11 maths for those who did the easy stuff)

far_beyond_sane 2005-04-26 23:15

Quote:
Originally Posted by BlackRoseImmortal
It's simple maths.


Yes, it is. My problem was about 5 times harder. I would expect any high school student doing even remotely advanced maths to nail this.

KS, you got my solution - ain't it neat?

NZ black metal drumm 2005-04-27 01:56

is it 6% Per Annum or 6% per day?

SARS 2005-04-27 05:54

i have no idea what continuously compounding is, er....106

n.b.
my answer makes me a moron.

[edit]
I got an E in maths by the way....

Amon rA 2005-04-27 06:25

I submitted an answer of sorts...

I have a beautiful maths problem which should be attempted next, I'll post it when this one is solved.

far_beyond_sane 2005-04-27 06:37

Quote:
Originally Posted by Amon rA
I have a beautiful maths problem which should be attempted next, I'll post it when this one is solved.


We're not going to put solutions here so it doesn't matter if it's solved or not. Post it now.

johnmansley 2005-04-27 06:41

Yeah, post it now. Or start a new thread if you wish.

Amon rA 2005-04-27 06:55

ok here it is

start with the algebraic equation

A = B

multiply each side by A
add (A^2 -2AB)
devide by (A^2 -AB)

and you should be left with an interesting answer... where did you go wrong?

A^2 denotes A to the power of 2, as always, pm me with your answer

far_beyond_sane 2005-04-27 08:32

Done. Easy. More.

Does anyone know the Monty Hall problem? That's a riot, that one. Can post if you'd like.

Amon rA 2005-04-27 08:35

ive had a couple of answers...
fay beyond sane is on the ball.
beats of carrion: do the last step again (the deviding) then study the answer
powersoft: try again, sit down with a pencil and a piece of paper


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