Molly Invests $8,600 into her son's college fund, which earns 3% annual interest compounded daily. Find when the value of the investment reaches $13,000. If necessary,

round to the nearest tenth.

The fund will reach $13,000 in approximately

years.

n= 13.8 years

Step-by-step explanation:

First, we need to determine the daily interest rate:

Daily interest rate= 0.03 / 365

Daily interest rate= 0.000082

Now, using the following formula we can determine the number of days and years:

n= ln(FV/PV) / ln(1+i)  

n= ln(13,000 / 8,600) / ln(1.000082)

n= 5,039 days

In years:

n= 5,039/365

n= 13.8 years

logv3(x+2)=1

rewrite in exponential form:

logb(x) = y is equal to b^y =x

b = 3, y = 1

now solve for x:

3^1 = x+2)

x = 3-2

x = 1

see the picture for the graph.