SOLUTION: Calculate the following equation. 10000=500(1+R/100)^25 I know that this question seems really simple, but actually I don't know the way to calculate it. So I request you to

Question 222556: Calculate the following equation.
10000=500(1+R/100)^25
I know that this question seems really simple, but actually I don't know the way to calculate it. So I request you to explain me everything in details.It would be a great pleasure for me. Thankyou very much indeed.
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
10000 = 500(1+R/100)^25
:
rewrite the equation to
500(1 + .01R)^25 = 10000
:
Divide both sides by 500
(1 + .01R)^25 = 20
:
Use logs
25*log(1 + .01R) = log(20)
:
log(1 + .01R) =
log(1 + .01R) = .05204
:
Find the 10^x (antilog)
1 + .01R = 1.1273
:
.01R = 1.1273 - 1
.01R = .1273
:
Multiply both sides by 100
R = 12.73
;
:
Check solution on calc: enter: 500(1+(12.73/100))^25 = 9999 ~ 10000
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