Math Problem HELP!!

[MyBoyHarper]

I have online math homework due in 2 hours and I have been stuck on this math problem for 3 hours! Someone please tell me the steps to getting it correct. I keep getting told it's wrong, but it won't work the problem out of explain what I'm doing wrong. Here's the problem:

Determine the present value P you must invest to have the future value A at simple interest rate R after time T.

A = 3500

R= 3.0%

T = 4 years

(Round up to the nearest cent.)

________

Anyone?? I am pulling out my hair here...

 

[Korr_and_Sophie]

what is the formula? I am good at math but i cant remember the formula. What grade is it?

 

[AngelnSnuffy]

I'm sorry, MBH, I just asked my hubby (who is at his 2nd job) and he says he wouldn't be able to figure that one out. That sounds like some hard stuff you have to do, you must be really smart. My hubby is great at all math, mostly. He did say that it would take a long time to figure out though, don't know...:foreheadsmack:

 

[MyBoyHarper]

Kara, it's college math.

Snuffles it's some sort of compounded interest problem. Most of this is a form of calculus that I am doing. God I hate math and I am so stressed with this stuff right now. Grrrr!!

 

[pamnock]

I just finished with lesson plans and am too tired to look it up LOL

Son Ryan saysthe formula isI = PRT

3500 x .03 x 4 = 420

Let us know if he got it right - he says he's positive LOL

Pam

 

[Pipp]

I lost you after 'determine'. :shock:

 

[binkies]

interest = the principle amount times the rate of interest times the time the interest is accrued.

the posting earlier is correct.


420 is the total interest and the total amount paid would by 3920.

 

[AngelnSnuffy]

:laugh:I know SAS, I know... I never got that far, I sucked at Algebra, what's that tell ya...

 

[MyBoyHarper]

Actually Pam, they did it differently. I finally figured it out.

The formula I used was

A=P(1+rt)

3500=P[1+.03(4)]

3500 = P(1.12)
______<WBR>____
1.12 1.12

1.12 divided by 1.12 on the right cancel out so you&#39;re left with 3500 divided by 1.12 which gives me 3125, which they claim was correct (thank God!)

Oh man, was a headache that was! Thanks guys for all y&#39;alls help!

 

[MyBabyBunnies]

:shock:That&#39;s CALCULUS?! Are you serious? We did that in grade 10. :shock:But then again, we hardly ever work with actual numbers in math anymore!

 

[AngelnSnuffy]

MBB, if you did that in HS, then I&#39;m plain dumb!:shock::shock::shock:<WBR> I seriously couldn&#39;t get past Algebra, but, I was going for Office Occupations.

 

[MyBabyBunnies]

We actually did basic compound interest in Jr. High. :?But we did more with it in grade 10. My last math course in high school was a lot of integrating and differentiating. To be honest we didn&#39;t work with a lot of numbers, it was a lot of theoretical letters, lol. I miss algebra which actually used numbers! Even my linear algebra class isn&#39;t working with stuff like this, they assume you know it.

But that being said, I do know that we had a few kids from the States transfer up here in high school and they failed dismally at math because they were so far behind us. onder:I guess it&#39;s jsut the different ciriculum!

 

[MyBoyHarper]

Well, I&#39;m a journalism major, so why the [bleep] I&#39;m required to do this, I have no idea.

 

[MyBabyBunnies]

I&#39;m going into chemical engineering yet I&#39;m taking classes that apply to civil, mechanical,and computer engineering. Don&#39;t ask why I need to know it but sometimes you just do.

 

[AngelnSnuffy]

MBH, I don&#39;t know why you would ever use that again for Journalism. :shock:

MBB-kudos to you! You&#39;re gonna be able to expand on your career w/ all that!

 

[pamnock]

MyBoyHarper[<WBR>/user] wrote: [/b][quote]Actually Pam, they did it differently. I finally figured it out.

The formula I used was

A=P(1+rt)

3500=P[1+.03(4)]

3500 = P(1.12)
______<WBR>____
1.12 1.12

1.12 divided by 1.12 on the right cancel out so you&#39;re left with 3500 divided by 1.12 which gives me 3125, which they claim was correct (thank God!)

Oh man, was a headache that was! Thanks guys for all y&#39;alls help!
[/quote]


Glad you got it figured out!

Pam

 

[MyBoyHarper]

FINALLY!! It&#39;s now past 9pm, and after 4 hours I am finally done with math homework. This was my hardest night yet this semester. :shock:

Off to other homework now... ugh.

 

[MyBabyBunnies]

I feel your pain, I spent an average of 8 hours on 5 questions in my Engg 130 class last semester. The answers were crazy long!

 

[Haley]

MyBabyBunnies[<WBR>/user] wrote: [/b][quote]But that being said, I do know that we had a few kids from the States transfer up here in high school and they failed dismally at math because they were so far behind us. :ponder:I guess it&#39;s jsut the different ciriculum!
[/quote]
Not different, ours is just way behind! Gotta love the education system in the good old US of A (is it bad that Im gonna be a teacher soon?!) :D

 

[MyBabyBunnies]

I didn&#39;t want to diss your education system but to be quite honest, we don&#39;t think very highly of it up here! Even your post secondary schools, unless you are attending Harvardor some other big name university, your education isn&#39;t seen as much more than a college degree instead of a university one. onder: