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)

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. 💰

Mentions: @jfang003, @eturnerx (@eturnerx-dbuzz), @ahmadmanga (@ahmadmangazap), and @holovision 🤔
Special mentions: @chrisrice and @jancharlest 🤯