Since everybody is interested in money, do it on a financial problem. Set up a problem where one is seeking to save a million dollars for retirement. Set up an equation like this:
$1 x 10^6 = a (1 + i/n)^kn,
where a is an initial investment, i is the annual nominal interest rate (the rate before compounding), n is the number of months in a year and k the number of years until reaching retirement. Then, using different scenarios, one can use logarithms to solve for the variables, either using base 10 logs or natural logarithms. You could even work one or two of them on the poster as examples.
An alternative would be to use the continuous compounding formula:
FV = a (e^rt),
where FV represents the future value of an investment, a is the initial investment, e is the base of the natural logarithmic system, r is the annual interest rate and t is the number of years the investment is held. A problem like this works best using natural logs, since "e" is a part of the equation. Then, using natural logs:
ln FV = ln a + rt, and it becomes a simple matter to solve for the different variables.
I know this is a life problem, because I use it all the time in deciding which investment options to pick for our retirement. Problems like this will tend to get people more interested in using math, while seeing its practical value, and perhaps encourage saving at the same time.
2007-05-28 05:53:26
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answer #1
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answered by MathBioMajor 7
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How approximately fee of gas in step with mile. gas mileage can rely on how briskly you're utilising and no count in case you're utilising on the city or highway. So g(x) would desire to be miles in step with gallon as a function of usual velocity and city / highway utilising, and f(x) would desire to be fee in step with gallon.
2016-12-18 06:39:07
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answer #2
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answered by Anonymous
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