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

Answer:

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

Step-by-step 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, $300(1.005)^{12t} >900$

$(1.005)^{12t} > \frac{900}{300}$

$(1.005)^{12t} > 3$

t>18.35

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