document.write( "Question 608737: Suppose that $60,000 is invested at 6% interest, compounded annually. After time t, in years, it grows to the amount A given by the function A(t)=$60,000(1.06)^t. Find the amount of time after which there will be $300,000 in the account. \n" ); document.write( "

Algebra.Com's Answer #383351 by ewatrrr(24785) $\"\"$ $\"About$

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document.write( "Hi
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document.write( "A(t)=$60,000(1.06)^t
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document.write( "Find the amount of time after which there will be $300,000 in the account
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document.write( "300000/60000 = (1.06)^t
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document.write( "  5 = (1.06)^t
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document.write( "log5/log(1.06) = t 
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document.write( "  27.62 yrs = t
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document.write( "  \n" );
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