Question

I am putting the number of years after 1987 in for T but I can’t figure it out

Answer 1

Find the number of years between 1987 and 2038.

`t=2038-1987=51`

Now substituting 51 into the equation, we have

`\begin{gathered} P(51)=2400e^(0.033(51)) \\ =2400* e^(1.683) \\ =2400*5.3811678 \\ =12916.0243396 \end{gathered}`

Hence the answer is 12,916