Mathematics, 10.10.2021 05:30 ccory0626
3. A savings account is started with an initial deposit of $2000. The account earns 5% interest compounded annually.
(a) Write an equation to represent the amount of money in the account as a function of time in years.
(b) Find the amount of time it takes for the account balance to reach 1 million. Show your work.
Note: 1 million is a 1 with 6 zeros. Note2: you must use log functions to solve.
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