School tomorrow and I still haven't finished my summer math packet. PLEASE DON'T MAKE MY MATH TEACHER KILL ME!!!

Fogell owns a classic car whose value has been increasing by 8.5% each year. The car is worth $5000. He wants to sell the car when it is worth $10,000. How many years to the nearest hundredth must he wait?

Question

School tomorrow and I still haven't finished my summer math packet. PLEASE DON'T MAKE MY MATH TEACHER KILL ME!!!

Fogell owns a classic car whose value has been increasing by 8.5% each year. The car is worth $5000. He wants to sell the car when it is worth $10,000. How many years to the nearest hundredth must he wait?

anonymous · Answer

$$10000=5000\left( 1+\frac{ 8.5 }{ 100 } \right)^n$$
$$\frac{ 10000 }{ 5000 }=\left( \frac{ 1085 }{ 1000 } \right)^n$$
$$\left( \frac{ 217 }{ 200 } \right)^n=2$$
find n

steve816 · Answer

Wow, brilliant!

anonymous · Answer

This is beyond me I have no idea, surjithayer sounds about right.