Exponential & Log Functions Modeling with Exponential EquationsB–6Read each problem to set up an exponential or logarithmic equation.Then, solve the equation.Show all work.1.Carl plans to invest $500 at 8.25% APR.How long will it take for his money to triple?2.Hugo begins a walking program by walking a half a mile per day for one week.Each week thereafter he increases hismileage by 10%.After how many weeks is he walking more than 5 miles per day?3.How many days will it take a culture of bacteria to increase from 2000 to 50,000 if the growth rate per day is 93.2%?4.A Global Positioning Satellite (GPS) system uses satellite information to locate ground position.Andy’s surveying firmbought a GPS system for $12,500.The GPSdepreciatedby a fixed rate of 6% and is now worth $8600.(Todepreciatemeans to lose value.)How long ago did Andy buy the GPS system?5.The formula for computing compound interest is given below:A =P(1+rn)nt