Calculating Value Over Time 2
View the Lesson | MATHguide homepage Updated December 9th, 2017


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Problem:   A painting will appreciate in value at a 3% annual rate. Currently, it is worth $340. When will its value be $714?

  Calculate the time (to the nearest tenth in years) by using this formula.

A = a(1 + r)t

 
Solution:  
= ( 1 + )t
 
= ( )t
 
= ( )t
 
log  =   t
  
 
  t