Answer:
50.93
Step-by-step explanation:
Create the mathematical model. It looks like this:
[tex]500(1.05)^t = 6000[/tex]
Where [tex]t[/tex] is the unit of time
Divide both sides by 500 to get:
[tex]1.05^t = 12[/tex]
Now translate this to a logarithm
[tex]log_{1.05}12 = t[/tex]
Now it isn't difficult to calculate that [tex]t[/tex] ≈ [tex]50.93[/tex]
