Question

How do I solve this exponential equation problem?

Answer 1

23.105 years

Explanation:

`$6000 = $3000 e^{0.03 * T }`
`2 = e^{0.03T}`
`0.03 T = ln(2)`
`T = \frac{ln(2)}{0.03} \approx 23.10390602...`

Thus it will take 23.105 years