Josh's grandparents put $3,000 into a college savings account when he was born. The account earns 6% interest per year. How long will it take before he has $15,000?

Therefore it will take 28 years.

Step-by-step explanation:

To find the years, we use the following formula,

A= Total balance after n years

P= Initial amount.

r= Rate of interest per year.

n = Time in years.

Given that, Josh's grandparents put $3,000 into a college saving account when he was born. The account earn 6% interest per years.

Here A=$15,000,P=$3,000, r=6%=0.06 ,n=?

Taking ln both sides

Therefore it will take 28 years.

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