#1627 · Algebra · Exponentials & logarithms

Present Value at Compound Interest

What sum of money at $6%$ compound interest will amount to £1000 in 12 years? Given $lo g 106 = 2.0253059, lo g 49697 = 4.6963292$ .

~10 minAnswer checked instantlycompound interestpresent value

H. S. Hall & S. R. Knight, Higher Algebra (1891) · Ch. XVIII. Interest and Annuities, Examples XVIII.a, No. 8

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Checked against the answer in H. S. Hall & S. R. Knight, Higher Algebra (1891).