2. The value of Twitter has been growing exponentially at a rate of 170% a year. If the company was worth $0.5 million in 2009, during what year will Twitter become worth $24 billion?

Accepted Solution

The year Twitter become worth $24 billion is 2019Step-by-step explanation:The formula to apply is;[tex]y=a(1+r)^{x}[/tex]where a=initial amountr=growth rate as a decimalx=number of time interval passedy=amount after x timeGivenr=170%=170/100 =1.7a=$500,000x=?y=$24000000000Finding xy=a(1+r)^x$24000000000=$500000(1+1.7)^xsimplify the above by eliminating the zeros both sides to remain with;240000=5(1+1.7)^xDivide both sides by 548000=(2.7)^xIntroduce natural log both sidesIn (48000)=x In (2.7)10.778=0.993x ------divide both sides by 0.99310.778/0.993=0.993x/0.99310.85=xTaking a whole number for the value of years,this will be 10 yearsThe year will be 2009+10=2019Learn MoreExponential growth : : growing, exponentially, rate#LearnwithBrainly