Supposed you deposit 5,000 in a savings account that earns 3% annual interest. if you make no other withdrawals or deposit how many years will it take the account balance to reach at least 6,000

It would take at least 7 years for the account balance to reach at least $6000.

Step-by-step explanation:

The formula used to solve for the amount of interest made over time is:  I = PRT, where I = interest earned, P = principal amount, R = rate and T = times.  In this case, the principal amount is $5000.  The annual rate is 3% (or the decimal equivalent of 0.03), the amount of interest earned should be equal to $1000, since the total amount in the account should be at least $6000.  So, the variable that we are solving for is 'T' or time.  

I = PRT

1000 = 5000(0.03)T  

1000 = 150T

6.67 = T

So, the amount of full years would be rounded to 7.  

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