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Mathematics 19 Online
OpenStudy (anonymous):

The amount of money in an investment is modeled by the function A(t)=900(1.0158)^t. The variable A represents the investment balance in dollars, and t the number of years. What is the doubling time for the investment? Round answer to 1 decimal place.

OpenStudy (rc94):

Basically for what value of t does (1.0158)^t=2? So take t= log base (1.0158) of 2

OpenStudy (rc94):

The answer is 44.2

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