SOLUTION: IF Annabelle invests $200 at 3% interest rate for t years, she will have the amount A= 200(1.03)^t dollars. How many whole years must Annabelle wait for the amount to reach 500? So

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: IF Annabelle invests $200 at 3% interest rate for t years, she will have the amount A= 200(1.03)^t dollars. How many whole years must Annabelle wait for the amount to reach 500? So      Log On


   



Question 1106245: IF Annabelle invests $200 at 3% interest rate for t years, she will have the amount A= 200(1.03)^t dollars. How many whole years must Annabelle wait for the amount to reach 500? So,obviously I plug in 500 as A,and I end up with,
500=200(1.03)^t
Divide by 200
2.5=1.03^t
So,er...what now?

Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+2.5+=+1.03%5Et+
Take the log base 10 of both sides
+log%28+2.5+%29+=+log%28+1.03%5Et+%29+
+log%28+2.5+%29+=+t%2Alog%28+1.03+%29+
+t+=+log%28+2.5+%29+%2F+log%28+1.03+%29+
You can find numerical answer using calculator