Posted by katrina on Tuesday, March 1, 2011 at 12:28am.
a. 1.12
b. [(1.12)^15 -1] x 100
The x 100 is for conversion %
c. about 6 hours, using the "rule of 72"
For the exact answer (t), solve
(1.12)^t = 2
your formula would be
Amount = a(1.12)^t , where 0 ≤ t ≤ 15
a) in 1 hour growth factor would be 1.12
b) Amount = a(1.12)^15 = 5.47a
percentage of growth = 5.47a/a = 5.47 or 547%
c)
2a = a(1.12)^t
2 = 1.12^t
log2 = log(1.12^t)
log2 = t log1.12
t = log2/log1.12 = 6.1
I do not agree with Reiny's answer #2. They asked for the change, so 1 must be subtracted from 1.12^15
This would result in a 447% increase, to 547% of the initial value
drwls is correct, I should have subtracted to get the change.
(Can I blame it on the fact that I was only on my first cup of coffee ?)
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