Answer:
t ≈ 11.7
Explanation:
r
A = P (1 + -------)^(n)(t)
n
A = 5000
P = 2500
r = 0.06
n = 2
t = ?
0.06
5000 = 2500 (1 + ----------)^(2)(t)
2
0.06
5000 = 2500 (1 + ----------)^(2)(t)
÷2500 ÷2500 2
0.06
2 = (1 + ----------)^(2)(t)
2
log 2
------------------------ = 2t
0.06
log (1 + ----------)
2
log 2
(1/2) ------------------ = 2t (1/2)
0.06
log (1 + ----------)
2
11.72488612 = t
11.7 ≈ t
I hope this helps!