Answer:
t =17 years
Step-by-step explanation:
The formula for interest
A = P(1+ r/n)^ nt
where a is the amount in the account , p is the principal, r is the rate, n is the number of times compounded per year and t is the time in years
Substituting in what we know
690 = 460 ( 1+ .024/365)^ 365t
690/460 = ( 1+ .024/365)^ 365t
1.5 = ( 1+ .024/365)^ 365t
Taking the log of each side
log(1.5) = 365t log( 1+ .024/365))
Dividing each side by( 1+ .024/365)
log(1.5)/ log( 1+ .024/365) = 365t
divide each side by 365
1/365 log(1.5)/ log( 1+ .024/365) =t
t =16.8949
To the nearest year
t =17
