SOLUTION: Bill currently pays a $605 premium for health insurance. If the premium increases at an annual rate of 12.03% per year, how many years will it take for the premium to be $5876.35?
Algebra ->
Exponential-and-logarithmic-functions
-> SOLUTION: Bill currently pays a $605 premium for health insurance. If the premium increases at an annual rate of 12.03% per year, how many years will it take for the premium to be $5876.35?
Log On
Question 1160407: Bill currently pays a $605 premium for health insurance. If the premium increases at an annual rate of 12.03% per year, how many years will it take for the premium to be $5876.35? Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! 605(1.1203)^t=5876.35
1.1203^t=9.713 don't round
log of both sides
t log 1.1203=0.98735
t=20.013 years
