SOLUTION: I cant figure out how to plug in equations for the formula N=Ie^kt For the problem-- There are currently 69 million cars in a certain country, increasing by .08% annually. How m

Question 301539: I cant figure out how to plug in equations for the formula N=Ie^kt
For the problem-- There are currently 69 million cars in a certain country, increasing by .08% annually. How many years will it take for this country to reach 81 million cars?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
I cant figure out how to plug in equations for the formula N=Ie^kt
For the problem-- There are currently 69 million cars in a certain country, increasing by .08% annually. How many years will it take for this country to reach 81 million cars?
-----------------------------------
N(t) = I*e^(kt)
----
81 mil = 69 mil*e^(0.08t)
---
1.1739 = e^(0.08t)
---
Take the natural log:
0.08t = ln(1.1739)
t = 2.00 years
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Cheers,
Stan H.
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