Given the equation:
[tex]200(1.06)^t=550[/tex]
We divide each side by 200:
[tex]\begin{gathered} \frac{200}{200}(1.06)^t=\frac{550}{200} \\ 1.06^t=2.75 \end{gathered}[/tex]
Now, we take the natural logarithm:
[tex]\begin{gathered} \ln (1.06^t)=\ln (2.75) \\ t\cdot\ln (1.06)=\ln (2.75) \\ \therefore t=\frac{\ln (2.75)}{\ln (1.06)} \end{gathered}[/tex]
