Answer:
0.07947
Explanation:
Given that
P=P0(1.05)t
where
P0 represents the price in dollars
Plus P0 = 1
T = time = 10 years
So the equation is
P = 1(1.05)^10
The formula is shown below:
[tex]\frac{d(a^x)}{dx}=a^x\log a[/tex]
[tex]\frac{d(P)}{dt}=\frac{d(1.05)^t}{dt}=1.05^t\ln (1.05)[/tex]
[tex]\frac{d(P)}{dt}=\frac{d(1.05)^{10}}{dt}=1.05^{10}\ln (1.05)[/tex]
After solving this, the value is 0.07947
