Can N be solved in the following equation using logs? I'm unable to do it. Thanks for help.
143.47=100*{[1.01]^N / [[1.01]^N - 1]}, solve for N.
Note: I know the answer but can't seem to solve it using logs.
+130071 143.47 = 100 * [ 1.01]^N / [ 1.01^N - 1 ] divide both sides by 100
1.4347 = 1.01^N / [ 1.01^N - 1] note that we can write this as
1/ 1.4347 = 1 - 1/1.01^N rearrange as
1/1.01^N = 1 - 1/1.4347
1/1.01^N = 4347 / 14347 and we can write this as
1.01^N = 14347 / 4347 take the log of both sides
log 1.01^N = log [ 14347 / 4347 ] and we can write
N* log 1.01 = log [ 14347 / 4347] divide both sides by log (1.01)
N = log [ 14347 / 4347] / log (1.01) ≈ 120
