Tina wants to save money for school. Tina invests $1,000 in an account that pays an interest rate of 8%. How many years will it take for the account to reach $1,300? Round your answer to the nearest hundredth.
A=P(1+r)^t
P = amount of money invested
r = interest rate percentage in decimal form
t = time in years
A = total money in the account at time
A=P(1+r)^t
P = amount of money invested
r = interest rate percentage in decimal form
t = time in years
A = total money in the account at time
