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e. all loans. The same basic formulas using logarithms can be used to calculate the needed number of investments and/or the time period of investments at a given growth rate that will be needed in order to reach a target level of investments savings (Brown 2010). Both of these applications have very real implications for many individuals, whether they are trying to buy a home or planning for their retirement, as well as a n abundance of other issues related to personal banking. Logarithms are not only useful in highly technical scientific pursuits and investigations, then, but are directly applicable and necessary to situations that directly relate to and have an effect on people's daily lives.
What I found most interesting and surprising about the development of logarithms is that they are something that needed development in the first place. I suppose it is similar to having taken any invention that pre-existed myself a little for granted, but with something intangible like a mathematical concept, it seems even more strange that there was a time before logarithms were used -- the numbers and operations necessary for their development existed for millennia, so it seems odd that it took so long for this development to occur. Of course, given that the many applications for logarithms still greatly confuse me (just when I thought I was beginning to understand the mathematics behind them, the practicalities of their use confound me!), I suppose it's understandable that it took...
While it did not greatly add to my understanding of logarithms themselves, it definitely made it clear how useful and necessary this tool is in many different applications, not only within purely mathematical operations but also in scientific pursuits and financial calculations that could have a definite effect on my future. Relating the mathematical concepts we encounter in class -- especially the concepts that for one reason or another present bigger challenges to one's understanding than others -- to real-world and personally affecting situations is definitely a good method for encouraging perseverance in understanding these concepts.
References
Brown, S. (2010). "Loan or investment calculations." Oak road systems. Accessed 4 April 2010. http://oakroadsystems.com/math/loan.htm
Campbell-Kelly, M. (2003). The history of mathematical tables. New York: Oxford university press.
Spiritus Temporis. (2005). "Logarithm." Accessed 4 April 2010. http://www.spiritus-temporis.com/logarithm/history.html
Tom, D. (2002). "Use of logarithms." The math forum. Accessed 4 April 2010. http://mathforum.org/library/drmath/view/60970.html
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