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Logarithmic Word Problems...oh yeah!! 1.You win $1.5 million in a lottery and invest it in a GIC that earns 5% per annum. a) What is it worth after 4 years? b) When will it double in value? 1 2. Ben invests $3400 into a GIC which earns 2% compounded annually. How long before the investment is worth $4500? 2 3. Your new car costs $23000 new and depreciates 30% annually. You want to trade it in when it reaches a value of $10,000. How long should you keep the car? 3 4. A population of rabbits quadruples every 2 years. If the initial number of rabbits was 25, how long will it take for the population to reach 700? 4 5. A radioactive isotope has a half life of 5 years. If there are presently 500 g of the isotope, how many years will it take to decrease to 100 g? 5 6. A deadly bacteria doubles in size every 3 hours. If there were initially 14 spores present, how long will it take for the number of bacteria to increase to 1799 spores? 6 7. If a painting costs $45 and its value increases at the rate of 8% each year, how many years will it take for its value to double? 7 8. The initial concentration of bacteria in a Petri dish was 40 mg/mm2. If the population triples in size every 15 minutes, how long will it take for the population to increase to 3000? 8 9. Garrett has invested his money into a GIC that will allow his money to quadruple every 7 years. If he initially invested $3200, how long will it take for his investment to be worth $60,000? 9 10. Kenneth paid $16000 for a car which depreciates 30% per year. At the same time his friend Karen paid $8000 for a painting which will appreciate 3% annually. When will their investments be equal? 10 11. Steve deposits $750 into an account, he was told that his balance will double every 8.5 years. His friend, Tamara deposits $500 into a separate account. Her money will triple every 10 years. After a certain number of years they will both have the same amount in their accounts. How many years will it take for this to happen? 11