A parent raises a child's allowance by 12% each year. If the allowance is $3.50 now, when will it reach $18?

1 answer

1. 18 = 3.5(1.12)^n
   5.142857 = 1.12^n
   take log of both sides and use log rules....
   
   n = log 5.142857/log 1.12 = 14.45
   
   so after 14 years the allowance will be below $18
   but after 15 years it will be over $18

   Answer ID
   524523

   Created
   April 3, 2011 3:06am UTC

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   0

   URL
   https://questions.llc/answers/524523