## steve816 one year ago School tomorrow and I still haven't finished my summer math packet. PLEASE DON'T MAKE MY MATH TEACHER KILL ME!!! Fogell owns a classic car whose value has been increasing by 8.5% each year. The car is worth $5000. He wants to sell the car when it is worth$10,000. How many years to the nearest hundredth must he wait?

1. anonymous

$10000=5000\left( 1+\frac{ 8.5 }{ 100 } \right)^n$ $\frac{ 10000 }{ 5000 }=\left( \frac{ 1085 }{ 1000 } \right)^n$ $\left( \frac{ 217 }{ 200 } \right)^n=2$ find n

2. steve816

Wow, brilliant!

3. anonymous

This is beyond me I have no idea, surjithayer sounds about right.