SOLUTION: I'm Sorry in advance, These are one of those 3 part problems, you make take my daily question away, thank you if your able to help me (i answered one i think, the others im having

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Question 820051: I'm Sorry in advance, These are one of those 3 part problems, you make take my daily question away, thank you if your able to help me (i answered one i think, the others im having trouble with the formula):
A(t)= a(1+r)^t


26.)suppose you deposit $2000 in a savings account that pays interest at an annual rate of 4%. If no money is added or withdrawn from the account, answer the following questions
a)How much will be in the account after 3 years (i got 2249.728)
b)How much will be in the account after 18 years
c)How many years will it take for the account to contain $2500
d)How many years will it take for the account to contain $3000
This counts as my four questions i guess
Thanks in advance :D
Answer by jerryguo41(197) About Me  (Show Source):
You can put this solution on YOUR website!
a)For three years; t=3
A%28t%29=+a%281%2Br%29%5Et
A%28t%29=2000%281%2B0.04%29%5Et
A%28t%29=2000%281%2B0.04%29%5E3
A%28t%29=2000%281.124864%29
A%28t%29=2248.73
You would have $2249.73 in your bank account
--------------------------------------------
b)For three years; t=18
A%28t%29=+a%281%2Br%29%5Et
A%28t%29=2000%281%2B0.04%29%5Et
A%28t%29=2000%281%2B0.04%29%5E18
A%28t%29=2000%282.02581%29
A%28t%29=4051.63
You would have $4051.63 in your bank account
--------------------------------------------
c)Account Balance 2500; A(t)=2500
A%28t%29=+a%281%2Br%29%5Et
A%28t%29=2000%281%2B0.04%29%5Et
2500=2000%281%2B0.04%29%5Et
2500%2F2000=%281%2B0.04%29%5Et
1.25=%281%2B0.04%29%5Et
t=%28log%281.25%29%2Flog%281.04%29%29
t=5.689
You will have $2500 in the bank within 5 years and 9 months
-----------------------------------------------------------
d)Account Balance 3000; A(t)=3000
A%28t%29=+a%281%2Br%29%5Et
A%28t%29=2000%281%2B0.04%29%5Et
3000=2000%281%2B0.04%29%5Et
3000%2F2000=%281%2B0.04%29%5Et
1.5=%281%2B0.04%29%5Et
t=%28log%281.50%29%2Flog%281.04%29%29
t=10.338
You will have $3000 in the bank within 10 years and 5 months