You and your best friend want to backpack through Europe. You have done some research and discovered that it will cost $2,500 for the plane ticket, rail pass, food, and lodging. You have already saved $1,500. If you invest this money in a savings account with a 3.5% interest rate compounded annually, how long will it take to earn enough money to go on the trip? Use the compound interest formula A = P (1 + i)n, where A is the accumulated amount, P is the principal, i is the interest rate per year, and n is the number of years. PLEASE SHOW ALL WORK!!! WILL GIVE MEDALS!

Question

You and your best friend want to backpack through Europe.  You have done some research and discovered that it will cost $2,500 for the plane ticket, rail pass, food, and lodging.  You have already saved $1,500.  If you invest this money in a savings account with a 3.5% interest rate compounded annually, how long will it take to earn enough money to go on the trip?  Use the compound interest formula A = P (1 + i)n, where A is the accumulated amount, P is the principal, i is the interest rate per year, and n is the number of years. PLEASE SHOW ALL WORK!!! WILL GIVE MEDALS!