SOLUTION: "Maria bought $300 of Freerange Wireless stock in January of 1998. the value of the stock is expected to increase by 7.5% per year. write the equation and represent the situation."
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-> SOLUTION: "Maria bought $300 of Freerange Wireless stock in January of 1998. the value of the stock is expected to increase by 7.5% per year. write the equation and represent the situation."
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Question 929252: "Maria bought $300 of Freerange Wireless stock in January of 1998. the value of the stock is expected to increase by 7.5% per year. write the equation and represent the situation."
This problem is supposed to have to do with logarithms somehow but i don't understand at all... Please help!!!! Answer by Rongtian(7) (Show Source):
You can put this solution on YOUR website! Log is simple. log_2(4) means 2 to the x power is four. what is x?
no log in this though
(f)t=a(1+r)^t Exponential growth function
Substitute 300 for a and 0.075 for r. t is time obviously
f(t) = 300(1+.075)^t
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