Calculating Value of Investment: $5,000 at 6.3% Interest

[hostergaard]

a sum of $ 5 000 is invested at a compound interest rate of 6,3% per annum.
the value of the investmen vill exceed $ 10 000 after n full years.
(a) write an inewuality to represent this information.
(b) calculate the minimum value of n.

please help. english is my second langue and I am a bit confused

 

[praharmitra]

you need to use the equation for compound interest rates. This is, as u probably know
$$<br /> A = P(1+\frac{R}{100})^n$$

You are given P, R and the required minimum value of A. You are to find the minimum value of n