Answer:
<em>x = 0.05</em>
<em>x = 1.57</em>
Step-by-step explanation:
The given equation is:
Moving all terms to the left side:
Now we define a function:
The solutions of the equation are the values of x such that y=0.
Since the function cannot be solved by algebraic methods, we use a graphing tool.
Those points where the graph crosses the x-axis are solutions of the equation.
Please refer to the graph in the figure below.
We can clearly identify there are two solutions at
x = 0.05
x = 1.57
Using an exponential equation, supposing a rate of 5%, it is found that it will take about 2.9 years for Emma's balance to reach $450.
An increasing exponential function is modeled by:
In which:
A(0) is the initial value.
r is the growth rate, as a decimal.
In this problem:
Her initial balance is of $300, hence . A(0)=300
The growth rate is of 15%, hence R =0.15
Then,
It will reach $450 after t years, for which A(t) = 450, hence:
It will take about 2.9 years for Emma's balance to reach $450
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