We deposited $1500 in a bank account with an annual compound interest rate of 2%, compounded...

Transcribed Image Text:

We deposited $1500 in a bank account with an annual compound interest rate of 2%, compounded annually. Supposing we don't deposit or withdraw money, how long will we have to wait until we can first take out $3,000 from the account? (Assume that interest is added to the account on the last day of each year.) We can take out that much at the end of the th year We deposited $1500 in a bank account with an annual compound interest rate of 2%, compounded annually. Supposing we don't deposit or withdraw money, how long will we have to wait until we can first take out $3,000 from the account? (Assume that interest is added to the account on the last day of each year.) We can take out that much at the end of the th year