Finite Math and Applied Calculus (6th Edition)

Published by Brooks Cole
ISBN 10: 1133607705
ISBN 13: 978-1-13360-770-0

Chapter 9 - Section 9.2 - Exponential Functions and Models - Exercises - Page 645: 86

Answer

in the year $2021$

Work Step by Step

The model we arrived at was $A=4000(1.006)^{4t}$ (amount t years after November 2010) We now want to find $t$ for which $\left[\begin{array}{ll} 5200 & =4000(1.006)^{4t}\\ 5200/4000 & =(1.006)^{4t}\\ \log(52/40) & =4t\cdot\log 1.006\\ t & =\dfrac{\log(52/40)}{4\log 1.006} \end{array}\right]$ $t\approx 10.964$ So, this will happen during the $11th$ year after 2010, in the year $2021$.
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