f=ir^t
139=134r^10
139/134=r^10
r=(139/134)^(1/10) then:
f=134(139/134)^(t/10) so in 2014, t=24 so
f=134(139/134)^(2.4)
f≈146 million (to nearest million)
Some will say that you have to use the exponential function, but it really gives you the same answer...even for continuous compounding :)...
A=Pe^(kt)
139=134e^(10k)
139/134=e^(10k)
ln(139/134)=10k
k=ln(139/134)/10 so
A=134e^(t*ln(139/134)/10) when t=24
A=134e^(2.4*ln(139/134))
A≈146 million (to nearest million)
The only real reason or advantage to using A=Pe^(kt) is when you start getting into differential equations...
