Quantitative Mehtods p. 362 Original CFA Book

CFA Level II Quant
#1

Hello guys,

I have a question. On page 362 in Quantitative Methods is a calculation.

In Example 4 under the Table 2 is the following sentence:

“The log base 10 of the assets under management equals log(10,000,00) = 7.”

Now I will check this calculation:

10,000,000 then I will press ln. I receive the following result = 16,1181 ???

Can anyone tell where is my mistake???

Thx

#2

log(x) - is to the base 10. since 10,000,000 = 10 ^ 7 -> log (10,000,000) = 7 to use you calculator you need to know the other trick. log (x) = ln(x) / ln(10) do that - you get 16.1181 / 2.34xxxx = 7

#3

Ohhh, I am an Idiot!!! It is so clear…lol perfect, thank you very much