document.write( "Question 1093370: Sarah invests $1000 in an account that earns 5.25% interest compounded annually. How long will it take the account to reach $2500? With that same time, what rate will take the account up to $5000? \n" ); document.write( "
Algebra.Com's Answer #707991 by addingup(3677)![]() ![]() You can put this solution on YOUR website! i'll give you one (I'm human, need my sleep): \n" ); document.write( "2500 = 1000(1+0.0525)^t \n" ); document.write( "2500 = 1000(1.0525)^t \n" ); document.write( "2.5 = 1.0525^t \n" ); document.write( "log(2.5) = log(1.1525^t) \n" ); document.write( "log2.5 = (t)(log1.0525) \n" ); document.write( "log2.5/log1.0525 = t \n" ); document.write( "0.40/0.022 = t \n" ); document.write( "t = 18\r \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |