Jaidee invests $2,628 in a retirement account with a fixed annual interest rate of 2.33% compounded 12 times per year. How long will it take for the account balance to reach $3,726.18?

The time it will take for the account balance to reach $3,726.18 is 15 months.

Step-by-step explanation:

The information provided is:

The formula of compound interest (compounded monthly) is:

Compute the value of t as follows:

Thus, the time it will take for the account balance to reach $3,726.18 is 15 months.

step-by-step explanation:

your mom

you didn't post any answer choices, so its not 100% clear what your teacher is looking for

however, log(15/7) is equivalent to log(15) - log(7)

i'm using the rule log(x/y) = log(x) - log(y)