Answer:
It will take more than 18.35 years for the amount in the account to be more than $900
Step-by-step explanation:
The amount in the bank account can be expressed by the exponential equation :
[tex]A=300(1.005)^{12t}[/tex]
Where A is the amount in dollars
t is the time
We are supposed to find About how many years will it take for the amount in the account to be more than $900
So, [tex]300(1.005)^{12t} >900[/tex]
[tex](1.005)^{12t} > \frac{900}{300}[/tex]
[tex](1.005)^{12t} > 3[/tex]
t>18.35
Hence It will take more than 18.35 years for the amount in the account to be more than $900
