QuestionFind the equation to determine when a stock at \$102.15 grows to \$233.10 at an$8.6\%$ quarterly increase.

Studdy Solution
Finally, we solve for $t$ by dividing both sides of the equation by $ln(1 +0.086)$.
$$t = \frac{ln\left(\frac{233.10}{102.15}\right)}{ln(1 +0.086)}$$This is the equation that can be used to determine how long it will take for the share to reach $233.10, assuming it continues to grow at the same rate.