HELP PLEASE EXPLAIN HOW TO DO IT PROPERLY

Question

Can you help me with this word problem>

1. Your rich uncle has promised to sell you his vintage car, which is worth $50,000, for just $10,000 if you can raise that amount by your sixteenth birthday. There are fifteen months until your birthday and you currently have $9359.08 in a money market account earning 5% interest annually. Using this information and the continuously compounding interest formula:

A=PE^rt

A=total amount P=principal r=interest rate t=time

Answer the following questions::

a. How long will it take this bank account to reach $10,000? Explain how you determined this and show your work.

b. Will you have enough money to buy the car 15 months from now? Will the account have some money left over?

c. Explain either (1) how much money will be left over after you buy the car or (2) how much money you will have to add to your account to reach $10,000.

d. Did you use any of the properties of logarithms to perform any of the steps in this question? Which ones did you use and how did you decide you needed to use them?

Answer 1

Here is the start

10000 ≤ 9359.08e^(15/12)

1.068481 ≤ e^1.25

Can you complete and answer?