It is not exponential the way you typed it.
If you meant y = 15,000(1.07)^x , which is what I suspect ...
A is certainly not the one
B is out since that would be linear
C.
2 = 1.07)^x
log2 = xlog1.07
x = log2/log1.07 = 10.24
so that is a correct choice so far
D
3 = 1.07^x
x = log3/log1.07 = 16.23
so 15 won't do it
correct choice is C
An investment grows according to the exponential equation y = 15,000 · 1.07x, where x is the number of years invested. Which of the following statements is true?
A. The investment will continue to grow at a rate of 7% per year compounded quarterly.
B. The investment will increase by $1050 per year.
C. The investment will more than double within 12 years.
D. The investment will triple within 15 years.
I got D is that correct. If incorrect please correct me. Thank you!
1 answer