SOLUTION: I missed a lecture hour for my math class and I have no idea what to do on this worksheet. I know we are using log and LN. so assume we would apply this to this assignment as well.

Question 721511: I missed a lecture hour for my math class and I have no idea what to do on this worksheet. I know we are using log and LN. so assume we would apply this to this assignment as well. the problem is:
The value of a house is increasing at 4.2% yearly. at this rate how long will it take for the value to double?
Thank you and I appreciate your time I this:)
Found 2 solutions by ankor@dixie-net.com, stanbon:
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
The value of a house is increasing at 4.2% yearly. at this rate how long will it take for the value to double?
:
Let original value of the house = 1
Let t = time for this to happen
1*(1.042)^t = 2
Using logs
log(1.042^t) = log(2)
the log equiv of exponents
t*log(1.042) = log(2)
t =
using your calc
t = 16.847 yrs
:
:
Check this on your calc, enter: 1.042^16.847 ~ 2,00
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
The value of a house is increasing at 4.2% yearly. at this rate how long will it take for the value to double?
---------------------
Let x be the value of the house before doubling.
Each year the value is multiplied by 1.042
------
Solve for "k"
1.042^k*x = 2x
----
Divide both sides by x to get:
1.042^k = 2
-----
Now take the log of both sides to get:
k*log(1.042) = log(2)
----
Solve for "k":
k = log(2)/log(1.042)
----
k = 0.3010/0.0179
k = 16.84 years
=====
In the 17th year the money will double,
==============================
Cheers,
Stan H.

RELATED QUESTIONS
I am the dad here and frustrated I can't help my son with this problem. It reads: If 1.0... (answered by jim_thompson5910,ankor@dixie-net.com,stanbon)
I am currently working on my masters in education and have a math class (which is not MY... (answered by scott8148)
I was sick for a few days and got my school work to do at home and I came across this... (answered by rapaljer)
Given the function f(x)= 3x^3-2x+1, find the average rate of change from x=2 and 3. (I... (answered by Fombitz,jim_thompson5910)
In class we learned a lesson on exponential functions, and all the problems we did solved (answered by josgarithmetic)
I missed a class when sick and now have no idea what or how to do problems that say:... (answered by jim_thompson5910,solver91311)
Sorry I gave the wrong problem in the previous question I submitted. That was on elf then (answered by josgarithmetic)
My math worksheet is asking me to graph each equation by plotting the intercepts and one... (answered by josgarithmetic)
I have been given work on concentric circles and have no idea what I have to do as I have (answered by Fombitz)