Question

*Will give brainiest. Tina invests $1000 in an account that pays an interest rate of 6.75%. A=P(1+r)^t.
P=amount invested
r=interest rate in decimal form
t=time in years
A=total money in the account at time t
How many years will it take for the account to reach $18,600? Round your answer to the nearest hundredth.

Answer 1

A=P(1+r)^t
18600=1000(1+0.0675)^t
18600/1000= (1.0675)^t
18.6= (1.0675)^t
log 18.6 = t log 1.0675
t= log 18.6/ log 1.0675
t=44.75 years

Answer 2

T=log(18.6)/log(1.0675)=???