MathCastle
PrecalculusMediumExponential and Logarithmic Functions

Exponential and Logarithmic Functions · Medium problem

How long will $2000 take to grow to $5000 at 6%6\% compounded monthly? Use A=P(1+rn)ntA=P\left(1+\tfrac rn\right)^{nt} and round to two decimals.