be specific
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1000 (1.08)^n = 2500
Divide both sides by 1000:
(1.08)^n = 2.5
Take natural log of both sides, then solve for n:
ln(1.08^n) = ln(2.5)
n ln(1.08) = ln(2.5)
n = ln(2.5) / ln(1.08)
n = 11.905903537
--------------------
Check: 1000 * 1.08^(11.905903537) = 2499.9999999992
ok
Ματπmφm
Divide both sides by 1000:
(1.08)^n = 2.5
Take natural log of both sides, then solve for n:
ln(1.08^n) = ln(2.5)
n ln(1.08) = ln(2.5)
n = ln(2.5) / ln(1.08)
n = 11.905903537
--------------------
Check: 1000 * 1.08^(11.905903537) = 2499.9999999992
ok
Ματπmφm