Hard Logarithm Problem?
This problem has been bothering me.
Ifra has been offered entry-level positions with 2 firms. Firm A offers a starting salary of 45 000 per year with a 2500 per year increase guaranteed each subsequent year. Firm B offers a starting salary of 37,000 with a 7.00 increase every year after that.
Would this be the right equation.
45000 +2500n=37000 (1.07)^n
It's not working though. I end up with log 45000-log37000=nlog(1.07)-log2500n
how on earth do i isolate n? that is the only help i need:)
Update:** it's 7 percent increase my bad
and it's 1.07 because we learned in school that your rate is equal to 1 plus or minus the rate.
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Their pay will be equal when the firm B raise is 8000 more then the raise that A has given: 37000(.07)^n=2500n--now you can use logs to solve.
Just compare at year 5, year 10, year 20, etc. by direct calculation.
Alternately substitute 1 +.07n + .00245n^2 for the interest factor and solve the quadratic.
Or just plot the two curves and observe where they cross.
hard logarithm problems
you cant subtract 37000 becasue its being multiplied bu 1.07^n. the only way to get rid of that term is by dividing