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April 24, 2014

April 24, 2014

Posted by **kyle** on Saturday, July 16, 2011 at 12:07am.

grown to $11,000? Round your answer to the nearest tenth of a year.

- algebra 2 -
**Max**, Saturday, July 16, 2011 at 12:15amA = P(1 + r/n)^(nt)

11,000 = 9000(1 + 0.08/4)^(4t)

11,000 = 9000(1.02)^(4t)

11/9 = (1.02)^(4t)

Time to use logarithms.

log_1.02(11/9) = 4t

t = 2.5 years

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