document.write( "Question 1074644: Joe invested $5,200 in an account earning 3.8% annual interest that is compounded monthly. How long will it take to accumulate a total of $6,200 in the account? \n" ); document.write( "

Algebra.Com's Answer #689311 by Fombitz(32388) $\"\"$ $\"About$

You can put this solution on YOUR website!
$\"F=P%281%2Bi%29%5Et\"$
\n" ); document.write( " $\"6200=5200%281%2B3.8%2F%281200%29%29%5Et\"$
\n" ); document.write( " $\"%281.00317%29%5Et=31%2F26\"$
\n" ); document.write( " $\"t=log%28%2831%2F26%29%29%2Flog%28%281.00317%29%29\"$
\n" ); document.write( " $\"t=55.6\"$
\n" ); document.write( "Let's round up to $\"t=56\"$ $\"months\"$
\n" ); document.write( " \n" ); document.write( "

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