document.write( "Question 217237: If $4000 is deposited into an account paying 3% interest compounded annually and at the same time $2000 is deposited into an account paying 5% interest compounded annually, after how long will the two accounts have the same balance?\r
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document.write( "Me and my friend are working on this problem together and this is what we have so far:\r
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document.write( "we used the equation A(t)= A (1+r)^t\r
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document.write( "we thought we had to set the equations equal to each other so...\r
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document.write( "4000(1.03)^t = 2000(1.05)^t \r
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document.write( "we tried to take the ln of both sides but ended up getting stuck. Can you please help us finish this problem? Thanks in advance! =) \n" );
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Algebra.Com's Answer #163817 by rfer(16322)![]() ![]() ![]() You can put this solution on YOUR website! You are thinking along the right lines but it is difficult. \n" ); document.write( "I decided to graph the two equations. \n" ); document.write( "The two equations intersect at 12 yrs. \n" ); document.write( "I hope that helps. \n" ); document.write( "Bob \n" ); document.write( " \n" ); document.write( " |