either i’ve lost one too many brain cells or this is more complicated than it sounds:
i have a mutual fund that, at this time, charges 5% for a withdrawal.
how much would i have to withdraw to end up with exactly $5000 in hand?
extra credit: show me the algebra.
ok - it was the missing brain cells.
thanks anyway.
moderator can ya close this before i get made fun of.
x - .05x = 5000
(1 - .05)x = 5000
.95x = 5000
x ~ 5263.16
$5263.16
You want to find the amount such that $5000 is 95% of it. Thus:
.95x=5000
x=5000/.95
okay, if you withdraw $5000 you get $5000 dollars, duh, but I want to show off so here goes:
no algebra involved im afraid. Just maths.
If you want to work out what 95% of something is you just go
5000 x 0.95 = 4750
so, if you withdrew $5000 you would lose $250
to work out how much you need to withdraw, just do:
original amount * 0.95 = 5000
so original amount = 5000 / 0.95
= 5263.157 (3 dp)
bastards!
got there while i was typing
that’s algebra!
no its not. Algebra is with letters
eg quadratic equations
Dictionary.
algebra - a generalization of arithmetic in which letters representing numbers are combined according to the rules of arithmetic
You just had a really long way of writing “x”, i.e., “original amount”.
Ok, so this post isn’t completely without substance, was it Lewis Carroll who said “algebra is a wonderful game, we go hunting a beast we know nothing about, so we call it x”?
okay youre right, but its not very complicated algebra - not what a mathematician would call algebra. Take a look at some Quantum equations to see what I mean
Closed at the OP’s request.