Math mini-contest problem for Day 16 on D.Buzz 😎

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Math mini-contest problem for Day 16 on D.Buzz 😎

A Hive user wants to invest HIVE at 15% annual interest compounded daily. How much HIVE does the user need to invest to earn 250 HIVE after 30 days?



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14 comments
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My answer is 217.39 HIVE. Too lazy to show my work as I used a calculator and don't want to type it up.

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Congrats you were upvoted from this account because you were in Top 25 engagers yesterday on STEMGeeks .
You made a total of 2 comments and talked to 2 different authors .
For more details about this project please read here - link to announcement post
You can also delegate and get weekly payouts.

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You don't invest 217.39 HIVE at 15% yearly interest (regardless of compounding rate) to get an interest of 250 HIVE after 30 days. πŸ€”

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Haha I must of put in the wrong numbers in the calculator. I don't even remember what I put in that day.

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(Edited)

I noticed that the Hive frontend (https://stemgeeks.net/) that you used removed the original post's tags (#math, #mathematics, and #dbuzz) from me on your reply and replaced them with #stem. πŸ€”πŸ˜

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(Edited)

The math tag puts your post in the #stem community. It is also why can earn the STEM token by doing so. I am using their front end to comment on your post.

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I am aware that my #math tag gets my post shown on https://stemgeeks.net/. I was just telling about the incident where the tags on your comment get replaced to #stem (and there is no way to bring them back using #Ecency, #Hiveblog, or #PeakD). πŸ€”

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Yes but it still gives you the other tokens. I just commented on a post from CTPTalk where you are only left with the CTP Tag, but when I go to LeoFinance, the vote does show an actual value on the comment. Thus I think the highest level tags matter for the rest of the comments.

Also if you post outside of StemGeeks, you lose 50% of your author rewards. Just something I read about and I didn't know if you knew.

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Thanks for sharing information about other Hive frontends. πŸ™‚

I might comment on a few posts on StemGeeks.net soon. πŸ€”

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Congrats, you were upvoted from this account because you were in Top 25 engagers yesterday on STEMGeeks .
You made a total of 5 comments and talked to 1 different authors .
For more details about this project please read here - link to announcement post
You can also delegate and get weekly payouts.

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Answer for Day 16 Math Problem

19,879.43 HIVE 🎯

Since the question in the original problem already specifies HIVE as the unit, any answer that does not have the unit HIVE will still be accepted.

Solution

The problem refers to HIVE, not Hive Power. Therefore, any inflation of Hive Power does not involve any ("liquid") HIVE. 😏

The formula to get the interest of an investment or debt with compound interest is the following:

I = P * ((1 + r / n) ^ (n * t) - 1)

where

  • A = total amount
  • I = interest amount
  • P = principal amount (or initial balance)
  • r = interest rate
  • n = number of times the interest is compounded per unit time (t)
  • t = time (or more specifically, duration)

Since the original problem specifically asks for the principal (initial investment) required given the interest amount, rate, and duration, we need to change the formula into the following:

P = I / ((1 + r / n) ^ (n * t) - 1)

Assuming a 360-day year, our original equation has the following data:

  • I = 250 HIVE
  • r = 15% interest per year = 0.4167% or (1/24)% interest per day
  • n = 360 times per year = 1 time per day
  • t = 30 days

Our equation now is

P = 250 / ((1 + (1/2400) / 1) ^ (1 * 30) - 1)

solution.png

which when evaluated gives approximately 19,879.43.

Winner: none 🀯

1 HIVE shall soon be distributed to the winners of the previous Math problems proportional to the number of days they won. πŸ’°

Mentions: @jfang003, @eturnerx (@eturnerx-dbuzz), @ahmadmanga (@ahmadmangazap), and @holovision πŸ€”
Special mentions: @chrisrice and @jancharlest 🀯

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Oh my! I was absent when our Math teacher taught us that. πŸ˜…

I only like !PIZZA πŸ˜…

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