.05= 100 (1+ .023/n)

It was impossible to construct a solution since the unknown compounding period appeared both in the power and what was being raised to the power. So algebraic techniques cannot construct a solution [even logs aren't powerful enough for this problem]. Goal Seek in Excel also was not powerful enough to solve this for us, and gave us an answer that did not make sense, so we used the Equation Solver in Excel along with common sense and a "guess and check" perspective - this is not a constructivist proof, as it does not show us how or why it works. Instead the computer (or we) guesses and checks until it finds an answer [and then we use common sense to evaluate whether that answer suffices].

You can expect to have problems that are similar. For the ASULearn questions, be sure that you could explain WHY each answer is true or false.

For the test, you will need to
write down the setup of the formula with numbers,
explain why (in words) the formula you chose applied to this problem,
solve the problem on your calculator, and
write down "math common sense" - did your answer make sense or not and WHY?:
For example, "we have seen that it is possible to double your money
in about 20 years because it is sitting there a long time",
or
"it makes sense that the interest on the loan is more than the loan itself
since the bank is loaning us a large lump sum up front, and we are
taking a long time - 30 years - to pay it back. The bank could
have deposited their money in a lump sum account instead of loaning
it to us, and the money would have more than doubled in this account.
Hence, we must pay back more than double the interest."

I want you to succeed and I am happy to help you understand
by answering questions in class or online, or going over material with you in
office hours. Here are a few words of encouragement from our
creative inquiry reading: