Problem #3 – Exponential Growth In a period immediately following its initial public offering (IPO), a stock was doubling in value every 5 hours.

Problem #3 – Exponential Growth In a period immediately following its initial public offering (IPO), a stock was doubling in value every 5 hours. You bought $10,000 worth of the stock when it was first offered. a. Find an exponential demand function in the form ( ) t V t Ab = where t is time in hours. b. When will the stock value reach $25,000? Solve algebraically and report EXACT value (your answer will have one or more logarithm). Then round to the nearest 0.1 hours. c. How much was your stock worth after 8 hours?

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