The amount of money in a bank 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?

A. 18 years
B. 30 years
C. 220 years
D. 37 years

Question

The amount of money in a bank 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?

A. 18 years
B. 30 years
C. 220 years
D. 37 years

tkhunny · Answer

Have you considered substituting the given information and solving?

$900 = 300(1.005)^{12t}$

anonymous · Answer

I have I just don't know wether to divide by 300 first or multiply 300 by 1.005^12

anonymous · Answer

@tkhunny

anonymous · Answer

you multiply

anonymous · Answer

I didn't get any of the answers listed...

anonymous · Answer

what are the listed options?

anonymous · Answer

They are in the question.

tkhunny · Answer

How can you not know?  What is attached to the 't'?  Get it off!

Divide by 300.