Jaime's refrigerator loan statement said that he would pay $1,026 as interest after 4 years at an interest rate of 13.5%. How mu
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The function f(x) = 4(4)x represents the growth of a fly population every year in a remote swamp.
calculates three times a year, not just once a year.
3 times a year
so x becomes 3x
Take log on both sides
Use log property and move exponent before log
Divide both sides by x
log 4 = 3 log(1+r)
Solve for '1+r'
log 4 = log(1+r)^3
Remove log from both sides
4 = (1+r)^3
take cube root on both sides
1.584740= 1+r
1+r = 1.59
so equation becomes
1+r = 1.59
subtract 1 from both sides
So r= 59 = 59%
So growth factor is 59%
Answer is option C