45000=15000(1+.08/12)^12t

how do you solve this equation?
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1 Answer

45000=15000*(1.006666666)^12t

3=1.006666666666^12t

log(3)=12t*log(1.oo666666666666)

12t=log(3)/log(1.006666666)

12t=0.477121254/0.00288568795

=346.5378161*0.477121254

=165.3405574

t=165.3405574/12

t=13.77837978
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