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August 22, 2014

August 22, 2014

Posted by **Shannon** on Monday, August 23, 2010 at 6:13pm.

A) how much is in the account after 5 years?

B) use logarithms to determine how many years it will take for the account to grow to $1000.

Could someone show me how to do this step by step? Thank you

- Math -
**Reiny**, Monday, August 23, 2010 at 6:27pma) amount = 100(1.04)^5

= ...

b)

100(1.04)^n = 1000

1.04^n = 10

log[ 1.04^n ] = log 10

n log 1.04 = 1

n = 1/log 1.04 = ...

(you do the button-pushing)

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