Question

A bank account balance, in dollars, is modeled by the equation f(t)=1000⋅(1. 08)t, where t is time measured in years.

Answer 1

F(t) = 1000 * 1.,08 * t

Initiaton deposition 1000

interest annually

t = years

How long does it take to double the amount , 1000 * 2= 2000

2000 = 1000 * 1,08^t

2000 / 1000 = 1,08 ^t

2 = 1,08^t

log 2 = log 1,08 ^t

log 2 = t * log 1,08

log 2 / log 1,08 = t

t = 9 years