**Now that we know how to solve exponential equations, let's go back to money and populations and solve some harder problems.**

**How long will it take $3000 to grow to $8500 if it is invested in an account that earns 8% compounded quarterly?**

** Set it up:**

**initial amount = 3000**

**final amount = 8500**

**split factor = 1.02**

**( remember that, each quarter, $1.00 splits into $1.02! )**

** We are looking for time...**

** We'll need to get the number of splits, #, then adjust it to years.**

**That's about 13.15 years. (I divided by 4!)**