Answer:
14 months
Step-by-step explanation:
1 month) 1.03(1000) = 1030
2 months) 1030(1.03) = 1060.9
3 months) 1060.9(1.03) = 1092.727
4 months) 1092.727(1.03) = 1125.50881
5 months) 1125.50881(1.03) = 1159.2740743
6 months) 1159.2740743(1.03) = 1194.05229653
7 months) 1194.05229653(1.03) = 1229.87386542
8 months) 1229.87386542(1.03) = 1266.77008139
9 months) 1266.77008139(1.03) = 1304.77318383
10 months) 1304.77318383(1.03) = 1370.01184302
11 months) 1370.01184302(1.03) = 1411.11219831
12 months) 1411.11219831(1.03) = 1453.44556426
13 months) 1453.44556426(1.03) = 1497.04893119
14 months) 1497.04893119(1.03) = 1541.96039912
I multiplied them all by 1.03 because 0.03 is 3% but if I multiplied the numbers by 0.03 it would give me 3% of that number instead of increasing it by 3% so by doing 1.03 x the number I am adding the 3% onto the number
