6000*{(1.0089166667^N - 1)/ 0.0089166667}=470000
672897. (1.00892^N - 1) = 470000
Divide both sides by 672897.:
1.00892^N - 1 = 0.698472
Add 1 to both sides:
1.00892^N = 1.69847
Take the logarithm base 1.00892 of both sides:
Answer: | N = 59.6733 - Number of months required to accumulate $470,000.
