Comments on: Solve This Investment Problem And Give Your Grey Cells Some ExerciseMusings on Money, Personal Finance, Frugality, Debt, and Other MattersBy: GolbGuru- November 10, 2006 All: congrats on getting the right answer. I have posted a possible way of solving the problem quickly in a new post: http:golbguru.blogspot.com200611solution-to-investment-problem-and.html Thank you for participating.http://www.thetaoofmakingmoney.com/2006/11/07/93.html#comment-242 By: Dimes- November 9, 2006 Alright, I got it, same as everyone else, but I haven't done a bona fide longhand algebra problem for a few years. I don't trust software though. Took me no time once I got the formula figured out. Probably about 4 minutes in all, 3 framing the formula.http://www.thetaoofmakingmoney.com/2006/11/07/93.html#comment-241 By: GolbGuru- November 8, 2006 keith and teri: nothing to be embarrassed here....it's just a reminder to "do your own calculations" sort of thing. :)http://www.thetaoofmakingmoney.com/2006/11/07/93.html#comment-240 By: JPostal- November 8, 2006 4000 4% = $160 3200 5% = $160 I don't think I figured it out "properly" but it worked. About a minute using a calculator. Jon Postalhttp://www.thetaoofmakingmoney.com/2006/11/07/93.html#comment-239 By: Keith and Teri- November 8, 2006 Umm, now I'm a little embarrassed it took me so long. Better hit the math books I guess.http://www.thetaoofmakingmoney.com/2006/11/07/93.html#comment-238 By: Keith and Teri- November 8, 2006 I got the same answer, $4000 4% and $3200 5% with each investment earning $160. It took me 8 minutes to do since it has been a while since I have done any algebra. I used a pen and paper and it took most of the time to figure out my equation.http://www.thetaoofmakingmoney.com/2006/11/07/93.html#comment-237 By: Pete- November 7, 2006 Sorry, with a crying baby in the background (I pressed enter too soon). Tom, the answer is what is the income (not the investment) of each (so it is $160 each)http://www.thetaoofmakingmoney.com/2006/11/07/93.html#comment-236 By: Pete- November 7, 2006 It is an easy solution especially with Excel solver - its to the point these days that you do not even need algebra. The longest part of the solution was waiting for Excel to open. And, Tom is right on with the answer.http://www.thetaoofmakingmoney.com/2006/11/07/93.html#comment-235 By: Trent- November 7, 2006 I don't want to spoil the answer, but it's pretty basic algebra. It took me about ten seconds and most of that was in Excel doing the actual mathematics portion.http://www.thetaoofmakingmoney.com/2006/11/07/93.html#comment-233 |