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Yasemin deposited $1000 into a savings account.

  .The relationship between the time, t, in years, since the account was first opened, and Yasemin's account balance, B(t), in dollars, is modeled by the following function.

 

   B(t)=1000 * e^0.03t

How many years will it take for Yasemin's account balance to reach $1500?
Round your answer, if necessary, to the nearest hundredth.

 Apr 23, 2019
 #1
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1500 = 1000 * e^(.03t)       divide both sides by 1000

 

1.5 = e^(.03t)       take the Ln of both sides

 

Ln 1.5  =  Ln e^(.03t)      and we can write

 

Ln 1.5  = (.03t) Ln e        [ Ln e  = 1....so we can forget this  ]

 

Ln 1.5  = .03t      divide both sides by .03

 

[ ln 1.5 ] / .03  = t ≈  13.52  years

 

 

cool cool cool

 Apr 23, 2019

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