Hi, would love some working out for this question (sample answer seems to skip a few steps).
HSC 2013 13 d) iii:
After 20 years the family borrows an extra amount, so that the family
then owes a total of $370 000. The monthly repayment remains $2998,
and the interest rate remains the same.
How long will it take to repay the $370 000?
Thanks!
Yessssss this thread is alive again!!!!
Ok so, essentially you're looking at 370000 being your new starting amount ie. P, and you're already given M as 2998 and r as 1.005. Since you want to know how long it takes to repay the whole thing, you set up the equation to be equal to zero, and your only variable left to find is n, the number of years, and that's what you want.
 = 0)
Just manipulate the equation, moving the 2998 by whatever to the right side, and go from there to get to:

And from there you manipulate again to get:

Use your log laws, and you should get the 192.46. Round it up, as they won't have finished in 192 months, and you have your answer.
Hope this helps!
EDIT: just saw the new question, gonna edit the solution in so i don't double post

The thing is, when you differentiate an exponential, the derivative is only the same as the original function if the base of the exponential is e. In this case, it isn't and its an arbritary constant a.
So basically you convert it to base e like so:

Using log laws, so you get to:

and then differentiating the expontential like usual, bring down the constant in the power, in this case lna, then keeping the top, which is

, as established and you get your derivative of

and yeah just sub in 1 at the end to get your answer