Question 1154547
{{{ V(t) = 420000*( .965 )^t }}}
(a)
{{{ V(2) = 420000*( .965 )^2 }}}
{{{ V(2) = 420000*.931225 }}}
{{{ V(2) = 391114.5 }}}
$391,114.50
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(b)
{{{ V(t) = 420000*( .965 )^t }}}
{{{ 325000 = 420000*( .965 )^t }}}
{{{ .77381 = ( .965 )^t }}}
{{{ log( .77381 ) = t*log( .965 ) }}}
{{{ -.111366 = t*( -.015473 ) }}}
{{{ t = 7.2 }}} years
and
{{{ .2*12 = 2.4 }}} months
7 years and 2.4 months
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