Answer:
To isolate the number of years, we need to take the logarithm from both sides of the equation. We can use the natural logarithm (ln):
ln(7,229) = ln[(1 + 0,052) number of years]
Let’s use the properties of the logarithms to simplify the equation:
ln(7,229) = number of years * ln(1 + 0,052)
Now we can divide the two sides of the equation by ln(1 + 0.052) to find the number of years:
number of years = ln(7,229) / ln(1 + 0,052)
Let’s use a calculator to evaluate this expression:
number of years 12.65
So it will take Jack about 12.65 years to save enough money to buy the new Rolls-Royce Phantom and win Jill’s hand in the wedding.
Explanation: