Exponential Function Solution Equation - Growth (Discrete, Mis-matched Time Units) - Equation to Time

Question

Rearrange this equation to solve for the time given this model of a yearly compounding growth of money in a savings account?

$$597 =500\cdot (1+0.02)^{(\frac{t}{4})}$$

Accepted Answer

$$t = 4 \cdot \frac{\ln{\frac{597}{500}}}{\ln{(1+0.02)}}$$

Answer

$$t = \frac{1}{4} \cdot \frac{\ln{\frac{597}{500}}}{\ln{(1+0.02)}}$$

Answer

$$t = \frac{1}{4} \cdot \frac{\ln{\frac{597}{500}}}{\ln{(1-0.02)}}$$

Practice: Exponential Function Solution Equation - Growth (Discrete, Mis-matched Time Units) - Equation to Time