Question

Please help! A sculpture was purchased for $4,000. The value of the sculpture increases at a rate of 4% per year. After 10 years the sculpture will be worth $5,920.97. In how many years wil the sculpture be worth $10,000? Round to the nearest tenth of the year.

Answer 1

if it is really 10% per year then all you need is to solve
\[10000=4000(1.04)^y\] for y

Answer 2

you can solve exactly via
\[2.5=(1.04)^y\]
\[y=\frac{\ln(2.5)}{\ln(1.04)}\]

Answer 3

sorry i meant to say "if it is really 4% per year"

Answer 4

2.403?

Answer 5

i get 23.36

Answer 6

you have to type it in carefully.

Answer 7

make sure to closes parentheses or else it will mess up.

Answer 8

Oh I see. So it will take 23.36 years until the sculpture will be worth $10,000?

Answer 9

that is what i got, yes

Answer 10

rounded gives 23

Answer 11

Thank you so much satellite73! :)