Use Properties of Logarithms or a Definition to Simplify the Expression

question 44

Multiple Choice

Use properties of logarithms or a definition to simplify the expression. Check the result with a change-of-base formula and a calculator. Round your answer two decimal places. ​

• A)7.39
• B)2.00
• C)4.00
• D)8.00
• E)no solution

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Definitions:

Payments

Transactions involving the transfer of money in exchange for goods, services, or to fulfill a legal obligation.

Miller-Orr Model

The Miller-Orr Model is a financial model used to manage cash flow and determine the optimal balance between holding cash and investing in securities.

Opportunity Rate

The rate of return of a foregone investment compared to the potential return on the chosen investment.

Net Float

The difference between checks written against and deposited in an account, reflecting the time lag between writing a check and clearing it.