Math Problem Statement

1500*((1-(1.04))^n/(1-1.04))+160000(1+(0.05)/12)^n=257000 solve for n

Solution

Ask a new question for Free

By Image

Drop file here or Click Here to upload

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