SOLUTION: Please I need help! with this: [1-(1.06)^-n]/0.06=8.384 thanks!

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: Please I need help! with this: [1-(1.06)^-n]/0.06=8.384 thanks!      Log On


   

Question 340983: Please I need help! with this:
[1-(1.06)^-n]/0.06=8.384
thanks!
Answer by jrfrunner(365) About Me  (Show Source):
You can put this solution on YOUR website!
%281-%281.06%29%5E%28-n%29%29%2F0.06=8.384+
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%281-%281.06%29%5E%28-n%29%29%2F0.06=8.384+
1-%281.06%29%5E%28-n%29=8.384%280.06%29=0.50304
%281.06%29%5E%28-n%29=1-0.50304=0.49696
log%28e%2C1.06%5E%28-n%29%29=log%28e%2C0.49696%29
-n%2Alog%28e%2C1.06%29=log%28e%2C0.49696%29
n=log%28e%2C0.49696%29%2F%28-log%28e%2C1.06%29%29=-0.699246%2F-0.058269=12
==
validate by substituting n=12 in %281-%281.06%29%5E%28-n%29%29%2F0.06=8.384+
%281-%281.06%29%5E%28-12%29%29%2F0.06=8.384+ you should see that the left hand side does equal 8.384