Question

A quantity with an initial value of 8500 grows exponentially at a rate such that the quantity doubles every 9 years. What is the value of the quantity after 23 years, to the nearest hundredth?

Answer 1

Answer: We can use the formula for exponential growth to find the value of the quantity after 23 years:

Q(t) = 8500 * 2^(t/9)

Where Q(t) is the value of the quantity after t years, and t/9 is the number of doublings that have occurred.

Substituting t = 23 into the formula:

Q(23) = 8500 * 2^(23/9) = 8500 * 2^2.56 = 8500 * 12.90 = 109350

So, after 23 years, the quantity has a value of approximately 109,350, rounded to the nearest hundredth.

Explanation: