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.

Question

anonymous · Answer

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

anonymous · Answer

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

anonymous · Answer

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

anonymous · Answer

2.403?

anonymous · Answer

i get 23.36

anonymous · Answer

you have to type it in carefully.

anonymous · Answer

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

anonymous · Answer

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

anonymous · Answer

that is what i got, yes

anonymous · Answer

rounded gives 23

anonymous · Answer

Thank you so much satellite73! :)