Question

Tina wants to save money for school. Tina invests $1000 in an account that pays an interest rate of 8%. How many years will it take for the account to reach $1,300 answer to the nearest hundredth

Answer 1

1300 = 1000 (1.08)^t
1.3 = (1.08)^t
log base 1.08 (1.3) = t
3.41 = t