Thomas R. answered 04/21/18
Tutor
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Over 25 years of experience and a sense of humor about math
The trick with this one is to treat eight years ago as year zero, and now as year eight. That gives us two points:
(0,3700) & (8, 1700)
I have seen a variety of variables used for exponential equations, so I will simply use the ones I was taught years ago and you can substitute the ones your book uses:
At = A0 * Kt where At is the amount at any future time, A0 is the original amount, K is the growth or decay factor and T is of course the time.
That gives you two equations:
3700 = A0 * K0 and 1700 = A0 * K8
In this case, we have an easy approach, since a zero power makes nearly anything 1. The first equation collapses to:
3700 = A0 and we now have a part of your final equation. Substitute it into the other one:
1700 = 3700 * K8 then solve by first dividing both sides by 3700, then taking the 8th route to isolate the K.
You will get .459 = K8 and then .907 = K
So now, you have:
At = 3700 * (.907)t . Substitute the 75 into the left side, then solve for T by first dividing by 3700. You get roughly:
.02 = .907t Bring the "T" down by taking a log on both sides (Ln is fine too), then divide by the log .907 on both sides. This yields a time of 40.1 years, rounded to 40.

Thomas R.
tutor
My pleasure, Ashley! I'm glad to hear you understand it better now.
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04/22/18
Ashley D.
04/22/18