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Old 10-31-2009, 09:33 PM   #1
livetobuild
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Finance brahs I need help GTFIH
Oscar borrowed $95,923.26 on a short term basis and agreed to pay back $100,000 at loan?s maturity. What is the investment term if the agreed interest is 8.5% per annum?

CHEERS...
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Old 10-31-2009, 09:42 PM   #2
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95,923.26(1.085)^x=100,000

solve.
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Old 10-31-2009, 09:46 PM   #3
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Quote:
Originally Posted by S0VERE1GN View Post
95,923.26(1.085)^x=100,000

solve.
cheers so now i got x= 0.9608

does that mean 96 days
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Old 10-31-2009, 09:49 PM   #4
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Quote:
Originally Posted by S0VERE1GN View Post
95,923.26(1.085)^x=100,000

solve.
I got .51 years.
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Old 10-31-2009, 09:54 PM   #5
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Quote:
Originally Posted by S0VERE1GN View Post
I got .51 years.
can you show me your step calculations please.
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Old 10-31-2009, 10:19 PM   #6
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95,923.26(1.085)^x=100,000

Since 8.5% is annual rate, x is in years. That's the finance.

The solution:

ln(95,923.26) + x ln(1.085) = ln(100000)

So:

x = [ln(100000) - ln(95,923.26)] / ln(1.085)

x = .510195

or 186.2 days.
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