Compound Interest (3): Because raising interest factors to an exponent of n was a difficult calculation before calculators, some mathematicians used logarithmic functions to calculate the exponent factor.
{"Image DocumentName": "Compound Interest (2):", "Image ImageDescription": "Suppose we invest our original  1,000 for three years at 8%, compounded quarterly: (The rate per quarterly period is 8% / 4 or 2%. The number of periods (n) is 3 x 4 = 12 quarterly periods.) FV = (1000)(1.02)12 =  1, If we wanted to know how much we d have to invest now (PV) at 8% compounded quarterly to earn  10,000 in three years: PV = / (1.02)12 =  7,", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}