`(1 + 0.065/365)^(365t) = 4` Solve the exponential equation algebraically. Approximate the result to three decimal places.

1 Answer

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loves2learn | (Level 3) Salutatorian

Posted on

Take the ln of both sides

`ln(1+0.065/365)^(365t)=ln4 `

Bring down the exponent

`365tln(1+0.065/365)=ln4 `

Simply

`t=21.330`