Answer:
Step-by-step explanation:
You are given most of the equation that you need to solve. To find the number of years it will take to have 2000, sub in 2000 for A and solve:
[tex]2000=1000(1.0512)^t[/tex] and begin by dividing away the 1000 on both sides to get
[tex]2=(1.0512)^t[/tex] now we have to take the natural log of both sides:
[tex]ln(2)=ln(1.0512)^t[/tex]. Taking the natural log allows us to bring the t down out front:
ln(2) = t ln(1.0512) and now divide both sides by ln(1.0512):
[tex]\frac{ln(2)}{ln(1.0512)}=t[/tex] and do this on your calculator to get
t = 13.9 years
