math experts...

Discussion in 'Mindless Banter' started by dearest22, May 9, 2006.

  1. dearest22

    dearest22 Member

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    anyone know how to do this problem?

    The price of an item increases due to inflation. If p=f(t) gives the price of the good t years after 1970 then f(t) is well approximated by the formula. f(t) = 7.50(1.058.)t ( that's exponeent t)

    questions:
    at what continues arrival rate is the price increasing
    - By what % does the price increase each month?

    Anyone? I despise math and I'm horrible at it. If do you know, could you show as much work as possible? thank you so much!


    OH! one more. ;)

    If you start with 1000, what would be a 10% increase?
     
  2. Leah

    Leah Well-Known Member

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    I just wanted to reply w/ a big heck no. My eyes went blurry after the word inflation

    :laugh: ....sorry :p :oops:
     
  3. janey

    janey Umm...

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    I'm good at math but you lost me too. :huh:
     
  4. dearest22

    dearest22 Member

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    I KNOW!! dumb, huh?
     
  5. AgKitty

    AgKitty Wherever, whenever

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    Did you ever get this figured out? If not, I believe you just have to take the derivative.

    Starting at 1000, a 10% increase is just 100 extra which equals 1100. Not sure if that is what you were asking.
     
  6. AgKitty

    AgKitty Wherever, whenever

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    If anyone did this tell me if you got .46% increase a month.
     
  7. dearest22

    dearest22 Member

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    I don't know what the awnser is... :lol:

    I have a test tomorrow with these questions on them! Anyone!!?
     
  8. Lyn

    Lyn 2nd String Bench Warmer

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    Try Googling the equation. I used to find a bunch of my economic problems online as study questions for exams. Even if you can't find the exact word problem, you can probably find the correct format in which to set it up and work it out. :)
     
  9. Bravogrl27

    Bravogrl27 Miss Congeniality

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    Ok, my math is way off... lol... well I tried at least ;) I got 2% (which seems fitting for the gas situation we're in lol)


    (7.935) t years. 2006-1970 = 36 years.
    So (7.935)/36 = 0.2204 or 2 %?
     
  10. dearest22

    dearest22 Member

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    I don't know if that's right.. but it looks good!! :lol:


    I would rather put that then leave the awnser blank. thanks. :)
     
  11. guinness91

    guinness91 New Member

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    math.....eeewww.. :huh: :huh: :confused: :confused: :uuhh:
     
  12. dearest22

    dearest22 Member

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    DIE mATH DIE!!!! :ban: yes, forever!!! :lol: :censor:
     
  13. guinness91

    guinness91 New Member

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    :clap: :clap:
     
  14. Bravogrl27

    Bravogrl27 Miss Congeniality

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    I don't know if that's right.. but it looks good!! :lol:


    I would rather put that then leave the awnser blank. thanks. :) [/b][/quote]
    I think I missed something. That t as an exponent thing. . . did you mean that the number in the paranthesis is to be timed by a certain power? Because I didn't do that (don't have a scientific calculator on hand, just a ten key) . . . and I deliberately divided instead of multiplied because otherwise it came out to 285.66 . . . so I think I missed a step or two (or three :eek:) . . .


    If you get it wrong just remember it was free advice and that's what you get for free advice, lol . . . now I want to keep working on it . . . darn.
     
  15. guinness91

    guinness91 New Member

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    :blink:
     
  16. Bravogrl27

    Bravogrl27 Miss Congeniality

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    Yeah definitely ignore all that because I didn't do anything for the "month" factor. . . like are you supposed to divide by 12? I don't get how that 1970 year turns into 7.935 . . . that whole equation they had doesn't fit my logic, so it must be some formula and I hate formulas . . . do they ever make sense . . . no.

    I like problems like this.

    Johnny is late on his account. He owes 5% penalty and 1% interest the first month overdue, and 5% penalty and 1% the 2nd month overdue, and 10% penalty and 1% the 3rd month overdue, and then 1% interest for every month overdue after that. Johnny's premium is 560 worker hours x a comp rate of .065 He is 3 months overdue. How much does he owe? That's what I deal with on a daily basis. No formulas. Give me that any day over whatever it was you have to do in your class. Best wishes to you. I salute you.
     
  17. guinness91

    guinness91 New Member

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    :blink:
     
  18. dearest22

    dearest22 Member

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    haha thank you bravo girl. I guess I'll just say a prayer than do my best!
     
  19. dearest22

    dearest22 Member

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    I got another one for ya.

    Q: How do you find the doubling time of 26%.

    ( you have to use the formula and everything..)
     
  20. AgKitty

    AgKitty Wherever, whenever

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    Rule of 72 is what we used in economy. To find out how long it takes for your money to double, divide 72 by interest rate.

    72/26 = 2.77, or 3 years

    Is that what you were asking?
     

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