Lesson 6
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1. Lesson 6
1.8. Explore 7
Module 7: Exponents and Logarithms
In Try This 4 you may have found that it takes nearly 10 times as long for an investment at 2.25% to grow to 5 times its original amount than an investment at 22.75%. These rates are extreme, and most mortgage rates and savings-account rates would fall somewhere between them.
To see another example of how logarithms can be used to solve a financial problem, read “Example 1” on pages 449 and 450 of your textbook. As you read, note how rounding errors are minimized by rounding only the final answer.
Self-Check 4
Complete questions 7, 9, 10, and 14 on pages 456 to 458 of your textbook. Answer
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