00:01
The way i set up these types of problems is that we have an ending amount is based off the beginning and then one plus sum rate to the t power.
00:10
So the first thing i'll mention is t equals zero is going to reference 1953.
00:20
So when i set up my equation, i'll go ahead and write this in green.
00:24
The 6479 is the p value.
00:28
And then it's growing by a percent of 9 .8 percent per year, so change that to a decimal, 0 .098 to the t power.
00:39
And they're asking in 1988.
00:44
So think about 1980 is, well, three plus five would give me eight, and then five plus three will give me, so 35.
00:58
So let's go and change that t to be 35.
01:00
And i'm just going to go straight to a calculator and type that in.
01:05
6479 times 1 .098 to the 35th power.
01:10
And yeah, you get an ending amount of 170 ,840.
01:19
It doesn't stay to round as that answer.
01:27
So then as we move on to the second question, which is really similar you're taking that 6479 number one plus 0 .098 to the t power and this time you want to see that it gets up to 23 ,7755...