Plot of Land V(t)

Question

A plot of land is projected to have the value V(t)= 82,000e^.06t dollars, t years from now. When will the value of the land will reach $107,000? Be sure to show or explain your work clearly. If you use a graphing calculator, make it clear exactly what you did.

Answer 1

V(t) = 82000e^0.06t

107000 = 82000e^0.06t

1.304878 = e^0.06t

ln 1.304878 = 0.06t

0.26610 = 0.06t

4.435 = t