How do you go about solving an equation when there are unknown exponents on both sides of the equation? The unknown exponent I'm calling 'n' and it will be the same value on both sides. My equation goes as such:
(800(1 + 4.5%)^n) / 2 = 600(1 + 3.5%)^n
(800(1 + 4.5%)^n) / 2 = 600(1 + 3.5%)^n
-
(800(1 + 4.5%)^n) / 2 = 600(1 + 3.5%)^n
400(1 + 4.5%)^n = 600(1 + 3.5%)^n
(1.045/1.035)^n = 600/400 = 1.5
taking logs,
n = log 1.5 /log (1.045/1.035) = 42.168 <-----------
400(1 + 4.5%)^n = 600(1 + 3.5%)^n
(1.045/1.035)^n = 600/400 = 1.5
taking logs,
n = log 1.5 /log (1.045/1.035) = 42.168 <-----------