I need help with a math problem?

Question

It's part of my finance homework. I've forgot how to do this stuff because I thought I'd never use it again! Haha. Here's the problem:

168,516.69 = (1400) * [(1 - 1.0038 ^ -N) / .0038 ]

I know there's logging in here somewhere... the negative definitely throws me off.

Answer 1

168,516.69 = (1400) * [(1 - 1.0038 ^ -N) / .0038 ]
(1 - 1.0038 ^ -N) / .0038 = 168,516.69/1400
1.0038 ^ -N = 1-.0038*168,516.69/1400
1/1.0038 ^ N = 1-.0038*168,516.69/1400
1/(1-.0038*168,516.69/1400) = 1.0038 ^ N
1.842986555 = 1.0038^N
N*ln(1.0038) = ln(1.842986555)
N = ln(1.842986555)/ln(1.0038)
N = 263.66
Round to 264


p = iP/(1-1/(1+i)^n) = iP/(1-(1+i)^-n)

Answer 2

I believe the answer is 161.20 because this is why:

First I did 1400 divided by .0038 and then divided that answer into the other side. So now i have an equation of
(1 - 1.0038 ^ -N)=.4574
Now I isolated the exponent and got an equation of
1.0038 ^ -N=.5426
Then i did log on both sides and got
-NLOG(1.0038 )=LOG(.5426)

Then solve and receive an answer of 161.20

Answer 3

start by getting everything to the other side except for the 1.0038^-N. then log it from there.

Answer 4

only on wednesdays and sometimes fridays