SOLUTION: If a painting costs $3500, and the value increases by 15% a year, in how many years will the value be twice its original cost?

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Question 1100133: If a painting costs $3500, and the value increases by 15% a year, in how many years will the value be twice its original cost?
Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
You can put this solution on YOUR website!
If a painting costs $3500, and the value increases by 15% a year,
in how many years will the value be twice its original cost?
:
let t = years to double paintings value
:
3500*(1.15)^t = 7000
Divide both sides by 3500
1.15^t = 2
use natural logs here
t*ln(1.15) = ln(2)
t = ln%282%29%2Fln%281.15%29
t = 4.96 ~ 5 yrs to double the value