Answer: 3,029.56
Explanation:
Hi, to answer this, first, we have to calculate the percent increase per day:
Since the value grows exponentially at a rate of 1.5% every 9 hours, if we divide the rate by 9, we obtain the percent increase per hour.
1.5 /9 = 1/6% per hour
Since a day has 24 hours, by multiplying the hour increase by 24 we obtain:
1/6 x 24 = 4% per day
4% = 4/100 = 0.04 decimal form
Now, we have to apply exponential growth formula:
y = a (1+r )^x
Where:
a= initial value
r = growth rate
x = time interval
Replacing with the values given:
3000 ( 1 + 0.04)^x
solving for x = 0.25
3000 ( 1 + 0.04)^0.25 =3,029.56
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