document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=969857>Question 969857</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose you have $1000 invested in a fund that pays 6% per year compounded monthly.  a) Write an equation for the function that fives the value of the investment after \"m\" months.  I came up with V=1000(1+0.06 divided by 12)^m\r<BR>\n" );
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document.write( "b) Then, Find an equation for the inverse of the function found in part (a). </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #592589 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=592589\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  Suppose you have $1000 invested in a fund that pays 6% per year compounded monthly. <BR>\n" );
document.write( "a) Write an equation for the function that finds the value of the investment after \"m\" months. I came up with V=1000(1+0.06 divided by 12)^m<BR>\n" );
document.write( "V(t) = 1000(1.005)^t<BR>\n" );
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document.write( "b) Then, Find an equation for the inverse of the function found in part (a).<BR>\n" );
document.write( "Interchange V and t to get:<BR>\n" );
document.write( "t = 1000(1.005)^V<BR>\n" );
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document.write( "Solve for \"V\"::<BR>\n" );
document.write( "1.005^V = t/1000<BR>\n" );
document.write( "V = log(t/1000)/log(1.005)<BR>\n" );
document.write( "====================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "------------------- </SPAN>\n" );
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