- #1
QuarkCharmer
- 1,051
- 3
Homework Statement
During a 10 year period of constant inflation, the value of a $200,000 property will increase according to the equation v = 200,000e^(.06t).
a.) What will be the value of the property in 4 years?
b.) Use a table/graph to estimate when this property will double in value.
Homework Equations
logb b = 1, logb 1 = 0, logb b^x = x, b^(log x) = x (b != 1, and b > 0)
Product, Quotient, Power properties.
The Attempt at a Solution
a.) This one is simple enough, plug and chug etc.
v = 200,000e^(.06(4))
v = 254249.83 (to 2 decimals)
b.) This one seems easy enough as well.
(2)200,000 = 200,000e^(.06t)
2 = e^(.06t)
ln 2 = ln e^(.06t)
ln 2 = .06 t (because ln e^x = x)
(ln 2)/(.06) = t
t = 12 (to the nearest year)
I have no problem working through these problems, but other than applying the identities that are provided, I have virtually no idea what the log's are doing. Is there some place I can find a better explanation of what is going on. Our book is horrible, and our professor more so. (I do get what eulers no. is, and that ln is just log base e, etc)
Thank you.