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The formula for compound interest is written as 
, where <em>P </em>is the principal (initial amount), <em>r</em> is the rate of interest, <em>n</em> is the number of times it's compounded per year, and <em>t</em> is the time in years. With the values from this problem plugged in, it looks like:
Since you're trying to find when your money will double, put 8000 for <em>A </em>and solve for <em>t</em><em /> :
It will take approximately 14.21 years, or about 14 years, 2 months, and 16 days, for the money to double.
Since you're trying to find when your money will double, put 8000 for <em>A </em>and solve for <em>t</em><em /> :
It will take approximately 14.21 years, or about 14 years, 2 months, and 16 days, for the money to double.
The approximate solutions of the equation are x = -0.93358695, and 1.05794841.
Given
Consider the equation .
Change of base formula is used in the evaluation of log and has another base than 10.
Taking log base 5 on both sides;
Then,
The solution of the equation is;
The solution is by graphing x + 5 and 5^(x^2) as two separate functions and then reading off the approximate x-coordinate of the point of intersection.
The solution is the x-value of the point of intersection.
x= -0.93358695, 1.05794841
Hence, the approximate solutions of the equation are x = -0.93358695, and 1.05794841.
To know more about logarithms properties click the link given below.
