It would take 1.6 years.
The equation using our information would be:
[tex]5000=3750(1.2)^t[/tex]
We would first divide both sides by 3750:
[tex]\frac{5000}{3750}=\frac{3750(1.2)^t}{3750}
\\
\\ \frac{4}{3}=1.2^t [/tex]
To solve for the exponent, we use logarithms:
[tex]\log_{1.2}(\frac{4}{3})=t
\\
\\1.57788=t
\\1.6 \approx t[/tex]
