Quiz -- Personal Finance 101

Discussion in 'Fred's House of Pancakes' started by EricGo, Aug 30, 2007.

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  1. EricGo

    EricGo New Member

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    <div class='quotetop'>QUOTE(priusenvy @ Aug 31 2007, 04:32 PM) [snapback]505126[/snapback]</div>
    Very nice !

    I remember that the limit of (1 + (1/n))^n as n approaches infinity is e, but i/n is beyond my very rusty algebra. How did you do it ? My son tried to take the natural log, and then apply l'hopital's rule, but got the wrong answer.
     
    #21 EricGo, Aug 31, 2007
  2. priusenvy

    priusenvy Senior Member

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    <div class='quotetop'>QUOTE(EricGo @ Aug 31 2007, 04:00 PM) [snapback]505179[/snapback]</div>
    And wrong! It's supposed to be e^i (minus one), not e*i. I guess I don't remember pre-calculus after all - I should have been able to look at the result and see that it was obviously wrong.
     
    #22 priusenvy, Aug 31, 2007
  3. airportkid

    airportkid Will Fly For Food

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    After 22 posts about six cents in loose change is still in doubt - is it any wonder the Mars probe crashed, or that the Hubble telescope couldn't focus? How did we ever manage to get all the way to moon and back in one piece? :lol:

    MB
     
    #23 airportkid, Sep 1, 2007
  4. EricGo

    EricGo New Member

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    <div class='quotetop'>QUOTE(priusenvy @ Aug 31 2007, 11:35 PM) [snapback]505269[/snapback]</div>
    I'll have to pat my son on the back -- he got e^i.

    Still, I'm curious what algebra you used.
     
    #24 EricGo, Sep 1, 2007
  5. Stev0

    Stev0 Honorary Hong Kong Cavalier

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    <div class='quotetop'>QUOTE(airportkid @ Aug 31 2007, 11:51 PM) [snapback]505299[/snapback]</div>
    There's no doubt. The only question is whether the interest starts on the first day (where then it would be $120.00 you owe) or not (where then it would be $119.94). The methodology is the exact same.
     
    #25 Stev0, Sep 1, 2007
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