Question

I need help setting up and solving this

Answer 1

e is a special number, so you would need to use a calculator to solve this.

a) replace t in the equation with 5 ( 2005 - 2000 = 5 years)

A = 16.6e^0.0457*5 = 20.86 million Round to nearest tenth = 20.9 million.

b) replace A with 23.3 and solve for t:

23.3 = 16.6e^0.0457*t

Divide both sides by 16.6:

1.4036 = e^0.0457t

Take the natural logarithm of both sides:

0.0457t = LN(1.4036)

Divide both sides by 0.457:

t = LN(1.4036)/0.0457

t = 7.419 years, rounded to nearest tenth = 7.4 years.