5,000=55.66 (1.114)^x (i.e. What is x?)
ln 5,000= x ln 55.66 1.114
I keep getting 2 point something, but does this make sense? My calculator display looks like this: ln 5000/ln (55.66)(1.114)
Yes, I am getting 2.063664032
5000=55.66 (1.114)^x
5000/55.66 = 1.114^x
89.83 = 1.114^x
log 89.83 = x log 1.114
x = log 89.83 / log 1.114
x = 41.66
why did you do
ln 5000/ln (55.66)?
To solve for x in the equation 5,000 = 55.66(1.114)^x, you correctly took the natural log (ln) of both sides of the equation. The next step is to isolate x by dividing both sides of the equation by ln(55.66)(1.114). However, it seems like you made a mistake with the parenthesis in the denominator of your calculator display.
To correctly calculate x, you should divide ln(5,000) by ln(55.66)(1.114), rather than ln(5,000)/ln(55.66)(1.114).
Try entering ln(5,000) ÷ (ln(55.66) + ln(1.114)) into your calculator. This should give you the correct value of x.