Question 871285
if $4000 is deposited into an account paying 3% interest compounded annually and at the same time $2000 is deposited into an account paying 5% interest compounded annually, after how long will the two accounts have the same balance?

4000(1.03)^t=2000(1.05)^t   
this is how I set up the equation, is this correct?
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That's right.  Solve for t
4000(1.03)^t=2000(1.05)^t
2(1.03)^t = (1.05)^t 
log(2) + t*log(1.03) = t*log(1.05)
log(2) = t*log(1.05) - t*log(1.03)
log(2) = t*(log(1.05) - log(1.03))
t = log(2)/(log(1.05/1.03))