Question

Pre calc help. Due tonight

Answer 1

About 17.36 years

Explanation:

The formula for compound interest is
`A=P(1+(r)/(n) )^(nt) \\`

A is future value

P is the amount you started with

r is the interest rate

n is the time which is 12 in this case

t is the amount of time you had the account which is what we are trying to find

We fill in what we know

`5000=2500(1+(0.04)/(12))^((12)(t))\\5000 = 2500((12.04)/(12) )^(12t)\\2=(12.04)/(12) ^(12t)\\Log_{(12.04)/(12) } 2=12t`

208.2905 = 12t

17.36 = t

Hope this helps and hopefully its not confusing