Question 736037
{{{ A = P(1+r)^t }}}
{{{ A = 2500 }}}
{{{ P = 1000 }}}
{{{ r = .06 }}}
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{{{ 2500 = 1000*( 1 + .06 )^t }}}
{{{ 2.5 = 1.06^t }}}
{{{ log( 2.5 ) = t*log( 1.06 ) }}}
{{{ t = log( 2.5 ) / log( 1.06 ) }}}
{{{ t = .39794 / .02531 }}}
{{{ t = 15.7226 }}}
If {{{ t }}} is in years,
{{{ .7226*12 = 8.672 }}}
{{{ .672*30 = 20 }}}
The time would be 15 yrs, 8 mos, 20 days