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 ->  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


   

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(32388) 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