Final answer:
To reach a financial goal of $136, assuming a compound interest rate of 7%, it will take approximately 131.29 years.
Step-by-step explanation:
To determine how many years it will take to reach a financial goal of $136, assuming a compound interest rate of 7%, we can use the formula for compound interest. In this case, we'll need to solve for the exponent, which represents the number of years:
3,000(1 + 0.07)n = 136,000
We can solve this equation for n, the number of years, using logarithms or trial and error. With logarithms, we find that it will take approximately 131.29 years to reach the financial goal.