Question

if i put 1500 into my savings accounts and earned 180 of interest at 4% , how long was my money in the bank

Answer 1

The formula to calculate total is
total = principal * (1 + rate) ^ years
we must solve it for years so
Years = log (total/principal) / rate
Years = ln(1,680/1,500)/.04
Years = (0.1133286853)/.04
Years = 2.8332171327

Here's a calculator to check that answer
http://www.1728.org/compint.htm

Answer 2

Thanks for the medal :-)