SOLUTION: Can you create an example of a real world problem with a quantity that grows or decays at a fixed rate? Also then solve by using logarithms.
Algebra ->
Finance
-> SOLUTION: Can you create an example of a real world problem with a quantity that grows or decays at a fixed rate? Also then solve by using logarithms.
Log On
Question 1039738: Can you create an example of a real world problem with a quantity that grows or decays at a fixed rate? Also then solve by using logarithms. Answer by addingup(3677) (Show Source):
You can put this solution on YOUR website! You collect baseball cards. Your collection consistently increases 4% a year in value. If your collection is worth $125 today, how much will it be worth in 10 years?
:
A = PV(1+0.04)^10
A = 120(1+0.04)^10 = 177.63
