College Algebra

In china, the number of sport utility vehicle sold in 2003 was predicted to grow by 30% annually for the next 5 years. what is the doubling time?

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  1. when is
    2 = 1 (1.3)^t
    take ln of both sides

    ln 2 = ln (1.3)^t
    ln2 = t (ln 1.3)
    t = ln 2/ln 1.3
    = appr 2.64 yrs
    or 2 years and 7.7 months

    check
    suppose there were 5 million sold now,
    in 2.64 years, the number sold is
    N = 5 (1.3)^2.64
    = 9.995 million or double the original 5 million

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