SOLUTION: I am trying to help a student and cannot seem to solve this problem... Nate has a savings account that is at 6% per year, he puts in $600 and adds no more. The book shows tha

Question 290312: I am trying to help a student and cannot seem to solve this problem...
Nate has a savings account that is at 6% per year, he puts in $600 and adds no more.
The book shows that x = 600(1.06)^t where x is total amount in account and
t is the time in years.
How long will it take to reach $2400.. so:
$2400 = $600(1.06)^t if I have my logs correct that means
first you divide by 600 so the statement reads
4 = (1.06)^t then t=log(1.06)(4)...this answer comes out to be .10 which is no where near the right answer which should be around 12.
Any ideas as to what I am doing wrong?
thanks
Answer by scott8148(6628) (Show Source): You can put this solution on YOUR website!
"4 = (1.06)^t then t=log(1.06)(4)..." ___ the error is here
___ not sure how you went from first part to second part

4 = (1.06)^t ___ log(4) = t [log(1.06)]

t = [log(4)] / [log(1.06)]
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