SOLUTION: How long does it take an investment to double if it grows according to the formula V=537e^.015t? Assume t is in years? (^ is used to show that e has been raised to the .015t power)

Algebra ->  Algebra  -> Exponential-and-logarithmic-functions -> SOLUTION: How long does it take an investment to double if it grows according to the formula V=537e^.015t? Assume t is in years? (^ is used to show that e has been raised to the .015t power)      Log On

Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations!
Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!

   

Question 106033This question is from textbook functions modeling change
: How long does it take an investment to double if it grows according to the formula V=537e^.015t? Assume t is in years? (^ is used to show that e has been raised to the .015t power).This question is from textbook functions modeling change

Answer by Fombitz(13823) About Me  (Show Source):
You can put this solution on YOUR website!
At time t=0, the investment is worth V=$537
When will it be worth 2($537)=$1074?
V%28t%29=1074
537e%5E%28.015t%29=1074Substitute with the formula.
e%5E%28.015t%29=2Divide by 537.
.015t=ln%282%29Natural log of both sides.
t=ln%282%29%2F.015Divide by .015.
t=46.2 years