2. Solving a logarithmic equationThe population N(t) (in millions) of the United States tyears after 1980 may be approximated by the formulaN(t) = 227e0.007t. When will the population be twice whatit was in 1980?
3. Compound Interest Formula nt ⎛ r ⎞ A = P ⎜ 1+ ⎟ ⎝ n ⎠whereP = Principalr = annual interest rate expressed as a decimaln = number of interest periods per yeart = number of years P is investedA = amount after t years
3. Compound Interest FormulaSuppose that $1000 is invested at an interest rate of 9%compounded monthly. Find the new amount of principalafter 5 years, after 10 years, and after 15 years. Illustrategraphically the growth of the investment.