Question

Jennifer has a savings account that earns interest at a rate of 3% per year. Jennifer deposits 1000 into the account. Which of the following exponential equations represents how long it will take for the account to grow to 1500?

Answer 1

The exponential equations represents how long it will take for the account to grow to 1500 is y = 1000(b)^13.72

Exponential equations

Exponential equations are inverse of logarithmic equation. The standard exponential equation is expressed as;

y = ab^x

where

a is the base

x is the exponent

b is the rate

If Jennifer has a savings account that earns interest at a rate of 3% per year. Jennifer deposits 1000 into the account, the resulting exponential equation will be:

y = 1000(1.03)^x

If y = 1500, find the value of x

1500 = 1000(1.03)^x
1.5 = 1.03^x

ln1.5 = xln1.03
x = ln1.5/ln1.03

x = 13.72

Substitute to determine the equation

y = 1000(b)^13.72

Hence the exponential equations represents how long it will take for the account to grow to 1500 is y = 1000(b)^13.72

Learn more on exponential equation here: brainly.com/question/2456547

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