carl invested £4200 in a savings account. nHe is paid 3.25% per annum compound interest. How many years before he has £4928.33 in the savings account
+37084 FV = PV (1+i)^n FV= future value =4928.33 PV = present value =4200 i = interest = .0325 n = years
4928.33 = 4200 (1.0325)^n
1.173411 = 1.0325^n
LOG(1.173411) = n LOG (1.0325)
LOG(1.173411)/LOG(1.0325) = n = 5 years
