brandon-robertson_60a90ade8c4b7
brandon-robertson_60a90ade8c4b7
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1000000 = 25000 (1+ 5/400)^(4t) 40 = (405/400)^(4t) 40 = (1.0125)^(4t) Taking log to both sides we get log 40 = log (1.0125)^(4t) log 4 + log 10 = 4t log 1.0125 log 2^2 + 1 = 4t (0.00539) 0.602 + 1 = 0.02156t t = 1.602/0.02156 t = 74.3 yea…