A quantity with an initial value of 240 grows exponentially at a rate of 9.5% every 2 decades. What is the value of the quantity after 52 years, to the nearest hundredth?
1 answer:
Answer: 303.870087962229
Simplify ≈303.87
Step-by-step explanation:
Grows 9.5%→r=0.095 Divide by 100
Grows every 2 decades: exponent of t2
(where t is in decades)
Write a function:
f(t)=240(1+0.095) ^t/2 Percent change every 2 decades
52 years→52/10→5.2 decades There are 10 years in a decade
Plug in t=5.2
f(5.2)=240(1+0.095) 5.2/2
Answer: 303.870087962229
≈303.87
Round to the nearest hundredth
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