Finding larger powers

[Anuru2020]

Hi,
Please kindly let me have a step by step solution to the following problem.

= (1+0.14)^48

 

[Dr.Peterson]

That's not what we do here!

Posting Guidelines (Summary)

Welcome to our tutoring boards! :) This page summarizes the main points from our posting guidelines. As our name implies, we provide math help (primarily to students with homework). We do not generally post immediate answers or step-by-step solutions. We don't do your homework. We prefer to...

www.freemathhelp.com

Please show what you have tried. In particular, we need to know what method(s) you have learned, in order to even guess what to suggest. Presumably you don't want to just use a calculator?

 

[mmm4444bot]

= (1+0.14)^48

What is on the left-hand side of your equation?

Please follow the forum's guidelines and post the entire exercise statement (word-for-word).

Can you post also what you tried or thought about? Where did you get stuck? Thanks!

\(\;\)

 

[Anuru2020]

What is on the left-hand side of your equation?

Please follow the forum's guidelines and post the entire exercise statement (word-for-word).

Can you post also what you tried or thought about? Where did you get stuck? Thanks!

\(\;\)

Hi,
I am trying to find the EMI of the loan I am expecting to apply from the bank.

I got the following formula:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

P = Principal amount
R = Interest Rate/month
N = Number of months to pay off the loan

EMI = [3500000x14/12*%x(1+14/12)^60]/[(1+14/12*%)^60-1]

However, I got stuck since I am not able to find the answer to this part of the formula ; (1+0.012)^60, where I am not able to find the power 60 or, (1.012)^60

 

[Dr.Peterson]

For this, you can use a calculator.

Any scientific calculator can evaluate 1.012^60, or you can just type that into Google!

 

[Anuru2020]

For this, you can use a calculator.

Any scientific calculator can evaluate 1.012^60, or you can just type that into Google!

I need to know how to do it manually using log tables etc.

 

[Anuru2020]

I need to know how to do it manually using log tables etc.

I know how to do it with calculator.

I wanted to know how to do it manually. However, it seems no one here knows how to do it manually.
I don't think this forum serves any purpose to anyone.

 

[Otis]

I need to know how to do it manually using log tables etc.

… I don't think this forum serves any purpose to anyone.

Gosh. That sounds like something a seven-year-old in a snit would declare, after not receiving instant gratification.

y = 1.012^60

Take the base-10 logarithm of each side.

log(y) = log(1.012^60)

Use the property of logarithms that changes the exponent into a factor.

log(y) = 60 × log(1.012)

Use links below, to learn how to calculate log(1.012) using a log table (see methods 1 and 2, in the second link).

log(y) = 0.3108

Switch to exponential form.

y = 10^0.3108

Use the second link below, to learn how to calculate 10^0.3108 (see method 3).

y = 2.0456

Hence, 1.012^60 = 2.0456 (rounded)

Reading a Log Table (finding log[1.557] -- the first example)

Calculating Logs and Anti-logs, using Tables (written examples)

?

 

[Otis]

… R = Interest Rate/month …

14/12*% …

Here's a quick note about notation, Anuru. In general, math does not use percent signs within equations. Instead of writing *% to mean ÷100, go ahead and do the division on the annual rate.

That is, write 0.14/12 instead of 14/12*%.

We call 0.14 the 'decimal form' of 14%. That's the form we use, in formulas.

?

 

[mmm4444bot]

it seems no one here knows how to do it manually.

From the forum's guidelines:

Have patience. There is no paid staff waiting on-hand to give instant replies. Many of the volunteer tutors have "real" jobs, and they all have to sleep from time to time.

Most of our regular tutors are in the USA. You're posting from the other side of the planet. Please be mindful of the difference between time-zones.

?