Question

In the year 2010,vou invested money in a money market account: The value of your investment years after 2010 is given by the exponential growth model A = 600Oe0o34 When will the account be worth $10,000? a. 2008 b. 2025 c. 2015 d. 2011

Answer 1

(C) 2015

Explanation:

Assuming that A = 600e^34

To find out when the account will be worth $10,000, we need to solve the equation A = 10,000 for t, where t is the number of years after 2010. We can do this by rearranging the equation to solve for t:

A = 10,000

600e^(34t) = 10,000

(34t) = ln(10,000/600)

t = ln(10,000/600) / 34

Now we need to find out what year this corresponds to. Since t represents the number of years after 2010, we can add 2010 to t to find the year in which the account will be worth $10,000.

Year = 2010 + t = 2010 + ln(10,000/600) / 34 = 2015.

So the account will be worth $10,000 in the year 2015. Therefore, the correct answer is (C) 2015.