Math Problem Statement

A house is purchased for P1,500,000 in 2016. The value of the house is given by the exponential growth model A = 1,000,000e 0.54t. Find t when the house would be worth P6,000,000.

Solution

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Math Problem Analysis

Mathematical Concepts

Exponential Growth
Natural Logarithms

Formulas

Exponential growth model A = A0 * e^(kt)
Natural logarithm (ln)

Theorems

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Suitable Grade Level

Grades 10-12