Tresha91203
Platinum Member
I would never in God's name remember that or be able to explain why it works to a student. lolGreat I plugged in my numbers and came up with 28. I suppose it could be 2.3 years, but I didn't do any converting, so it shouldn't have come out months.You must also know that P+I=A.
A=500(1+0.1x). so
P+I=500(1+0.1x)
500+100=500+50x
600=500+50x
100=50x
2=x
2 years (if it's *annual*). If they ask how many months, convert to 24.
I give up on this formula.
Post the problem. You can rewrite the same formula this way (solved for t) if it helps:. t = (1/r)(A/P - 1)
It's ok, lol. Math, like music, is a language. I do this all day as an academic tutor. It's basically like translating.