Posted by **Soph.** on Thursday, October 25, 2007 at 10:06pm.

please help me with the following:

The value of a particular investment follows a pattern of exponential growth. In the year 2000, you invested money in a money market account. The value of your investment t years after 2000 is given by the exponential growth model a=3000e^0.053t When will the account be worth $5097?

- Algebra word problem -
**drwls**, Thursday, October 25, 2007 at 10:26pm
Set 3000e^0.053t = $5097

e^0.053t = 5097/3000 = 1.699

Take the natural log of both sides

.053 t = 0.53

t = _?_ years

- Algebra word problem -
**Soph.**, Thursday, October 25, 2007 at 11:12pm
I got 10 years, but my answer choices are: a. 2010, b.2011, c.2009, d. 2012.

And I don't understand how you took the natural log of both sides?

- Algebra word problem -
**drwls**, Thursday, October 25, 2007 at 11:25pm
You add t to the year 2000 in this case, so the answer is a.

Taking the natural log (to base e) was in my case done with a hand calculator. The natural log of e^x is x.

## Answer This Question

## Related Questions

- precalculus - the value of a particular investment follows a pattern of ...
- math- HELP! - The value of a particular investment follows a pattern of ...
- Math - The value of a particular investment follows a pattern of exponential ...
- Math - Please help me, I have to solve these problems: My great-grandfather ...
- Finance - 3. Joe and Sue invested $2000 at Bank America in 1995, at 6% ...
- accounting - Mr. and Mrs. Garcia have a total of $ 100,000 to be invested in ...
- algebra - A man invested half of his money at 5%, one-third of his money at 4%, ...
- Algebra Grade 7 - You invest $275.00 in a money-market account that pays simple ...
- Math - Please help me solve this problem: My great-grandfather invested $ 9. in ...
- Algebra 2 - some investments in the stock market have earned 10% annually. At ...

More Related Questions