Question

The amount a money in the bank account can be expressed by the exponential equation A=300(1.005)^12t where A is the amount in dollars and t is the time in years. About how many years will it take for the amount in the account to be more than $900?

Answer 1

19th year

Explanation:

19th year

Answer 2

It will take more than 18.35 years for the amount in the account to be more than $900

Explanation:

The amount in the bank account can be expressed by the exponential equation :

`A=300(1.005)^(12t)`

Where A is the amount in dollars

t is the time

We are supposed to find About how many years will it take for the amount in the account to be more than $900

So,
`300(1.005)^(12t) >900`

`(1.005)^(12t) > (900)/(300)`

`(1.005)^(12t) > 3`

t>18.35

Hence It will take more than 18.35 years for the amount in the account to be more than $900