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Math problem help because I'm an idiot (1 Viewer)

belljr

Footballguy
You make X.   Every year you receive a flat increase of Y.

How many years until you reach Z .

So for example.

X = 100000

Y = 3%

Z = 125000

How many years until you reach Z?

Obviously the brute force way is 

Year 1: 103000

Year 2: 106090

Year 3: 109272.70

Year 4: 112550.88

etc etc....   

I can'tfor the life of me remember how to do this...

 
100,000*(1.03^x) = 125,000

1.03^x = 125,000/100,000

1.03^x = 1.25

x * ln(1.03) = ln(1.25)

x = ln(1.25)/ln(1.03)

x = 7.55

 
Last edited by a moderator:
z=x(1+y)^t

with y being the rate as a decimal (3% = 0.03) and t being the number of years

t= ln(z/x)/ln(1+y)

 
The answers above seriously hurt my head. I've forgotten so much high school math, and my kid will be needing help with stuff just like that very soon.

 
You make X.   Every year you receive a flat increase of Y.

How many years until you reach Z .

So for example.

X = 100000

Y = 3%

Z = 125000

How many years until you reach Z?

Obviously the brute force way is 

Year 1: 103000

Year 2: 106090

Year 3: 109272.70

Year 4: 112550.88

etc etc....   

I can'tfor the life of me remember how to do this...
Maybe math just isn't your thing.

I know. Let's have a face contest.

 

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