Question

ian invested $2500 in an investment vehical that would guarantee to earn 4% intrest yearly. the function for this is A(t)=2500(1.04). now using tables on your calculator, determine, to the nearest whole year, the value of t that solves the equation A(t)=5000. justify your answer with numerical evidence.

Answer 1

A ( t ) = 2500 * (1.04) ^t
A ( t ) = 5000
5000 = 2500 * (1.04)^t
( 1.04 ) ^t = 5000 : 2500
(1.04)^t = 2
t = 17.68 ≈ 18
The value of t is 18 years.