Solve this application using logarithms. how much principal, to the nearest dollar, should you invest at 4% in order to have $3,000 for a vacation to europe in 3 years? ≈ $ a0

We have given amount after 3 years = $3,000.

Rate of interest = 4%.

Number of years = 3 years.

We know compound interest formula.

Note: We can use compound interest formula directly. No log required there.

A=P(1+r)^t

Plugging values in formula, we get

We need to solve it for P now.

Dividing both sides by (1.04)^3, we get

(1.04)^3 = 1.124864

Dividing 3000 by 1.124864, we get

P = 2666.99

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1 + (6 / x - 1)

step-by-step explanation:

divide using polynomial division.