Math Problem Statement
1500*((1-(1.04))^n/(1-1.04))+160000(1+(0.05)/12)^n=257000 solve for n
Solution
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Math Problem Analysis
Mathematical Concepts
Exponential Equations
Numerical Methods
Algebra
Formulas
Exponential growth formula: A = P(1 + r/n)^(nt)
General form for solving exponential equations
Theorems
Logarithm properties for solving exponents
Numerical approximation methods like Newton's method
Suitable Grade Level
Grades 11-12, College Level
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