Logarithmic Functions.Determine how long ,to the nearest year ,that it will take for the investment to be worth at least $4000 A young man has $700 in an investment that earns 5.3% per year, compoundedannually. A function that models the growth of the deposit isy = 700(1. 053)"where y is the value of the investment, in dollars, and x is the number of years sincethe deposit was made.

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Answered: Logarithmic Functions. Determine how…

Logarithmic Functions. Determine how long ,to the nearest year ,that it will take for the investment to be worth at least $4000

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 8RE: Suppose an investment account is opened with aninitial deposit of 10,500 earning 6.25...

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Question

Logarithmic Functions.

Determine how long ,to the nearest year ,that it will take for the investment to be worth at least

$4000

A young man has $700 in an investment that earns 5.3% per year, compounded
annually. A function that models the growth of the deposit is
y = 700(1. 053)"
where y is the value of the investment, in dollars, and x is the number of years since
the deposit was made.

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