#LOG need help pls

6 messages · Page 1 of 1 (latest)

opaque relicBOT
wet coyote
#

he equation log 1.109485 = log 1.005208333312t models the amount of time it takes a $10,000 investment to grow to $11,094.85 in a savings account where the annual interest is compounded monthly. Solve for the amount of time, rounding your answer to the nearest month.

1 month
2 months
20 months
17 months

brittle monolith
#

log a = log b implies a = b

#

so you have 1.109485 = 1.005208333312t

#

and then isolate t

#

and then you have t = log(1.109485) / log(1.004208333312)