Question

Help me figure out this problem!!

Answer 1

4.47 years

Explanation:

Fill in the given value of P and solve for t.

15390 = 19000·0.954^t

15390/19000 = 0.954^t

Taking logarithms ...

log(1539/1900) = t·log(0.954)

t = log(1539/1900)/log(0.954) ≈ 4.47 . . . years