Posted by Jake on Tuesday, March 26, 2013 at 9:34pm.
at "present time" t = 0
P = 8600 + 650(ln(1), but ln1 = 0
= 8600
b) 8600 + 650 ln(t+1) = 12000
ln(t+1) = 5.23077
t + 1 = e^5.23077 = 186.9
t = 185.9 years ???? (my math is correct)
c) plug in 50 for t, evaluate
(I got 11,156)
d) same as c, plug in t = 100
thank you very much, it all makes sense now except for a. could you explain how you get that number. I plugged it into a calculator and it is correct but i just don't understand how it works.
a )
Now t = 0
8,600 + 650 ln( t + 1 ) =
8,600 + 650 ln( 0 + 1 )=
8,600 + 650 ln ( 1 ) =
8,600 + 650 * 0 =
8,600 + 0 = 8,600
b )
8,600 + 650 ln( t + 1 ) = 12,000
650 ln( t + 1 ) = 12,000 - 8,600
650 ln( t + 1 ) = 3,400
ln( t + 1 )= 3,400 / 650
ln( t + 1 )= 5.23076923
t + 1 = e ^ 5.23076923
t + 1 = 186.93655
t = 186.93655 - 1 = 185.93655
c )
8,600 + 650 ln( 50 + 1 ) =
8,600 + 650 ln( 51 ) =
8,600 + 650 * 3.93182563 =
8,600 + 2,555.6866595 = 11,155.6866595
Rounded 11,156
d )
8,600 + 650 ln( 100 + 1 ) =
8,600 + 650 ln( 101 ) =
8,600 + 650 * 4.61512 =
8,600 + 2999.828 = 11,599.828
Rounded 11,600
Ohh my gosh, thank you. I was just confused about "a" but the extra information cant hurt. Thank you so much.