SOLUTION: Solve for X: 2000 = 10000(1 + 0.0576/12)^12X

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Question 1062043: Solve for X:
2000 = 10000(1 + 0.0576/12)^12X

Answer by math_helper(2461) About Me  (Show Source):
You can put this solution on YOUR website!
+2000+=+10000%281%2B0.0576%2F12%29%5E%2812x%29+
+2000%2F10000+=+%281%2B+0.0576%2F12%29%5E%2812x%29+
++0.20+=+%281.0048%29%5E%2812x%29+
+ln%280.20%29+=+%2812x%29+ln%281.0048%29+
+ln%280.20%29%2Fln%281.0048%29+=+12x+
++-336.10364+=+12x+
++++x+=+-28.00864+
—
Ans: x = -28.00864
—
Check:
10000*(1+0.0576/12)^(12*-28.00864)
= 10000*(1.0048)^(-336.10368)
= 10000*(0.2)
= 2000 (ok)