Math 12 Help (Find missing variables)
Hello. I'm looking for a variable, "t"
Using the formula
We know the following:
"I" represents interest earned and is equal to (A - P),
The answer for t is 8.05 but I'm unsure how to reach this number. My work is as follows:
2025 = 870(1 + 0.105/365)^365t
2025/870 = (1 + 0.105/365)^365t
2.327586 = (1.000288)^365t
(this is where I am lost)
Where am I making my mistake? I am over-thinking this question, I believe.