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The value of a stock share in a new technology company has been increasing at a rate of 8.6% quarterly. The initial price of one share was $102.15. An investor plans to sell once the value of one share reaches $233.10.

If t is the number of quarters since the initial price of one share was set, which equation could be used to determine how long it will take the share to reach $233.10, assuming it continues to grow at the same rate?

A. 102.15 = 233.10(0.086)t
B. 102.15 = 233.10(0.914)t
C. 233.10 = 102.15(1.86)t
D. 233.10 = 102.15(1.086)t

Respuesta :

MrEquation
Answer: The correct answer would be choice D, as long as the t was an exponent.

It should be written as 233.10 = 102.15(1.086)^t

The t has to be an exponent because you are multiplying the investment by 1.086 repeatedly each quarter. We used 1.086 because we added on 8.6% (or 0.086) to the investment.

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