An amount of $56, 000 is deposited in an account. Three percent of the remaining balance is withdrawn from this account every month. No Further deposits are made. How long will it take for the balance to drop to $20,000? Hint: The formula for finding when the population is going to c times the beginning population is t = log( c)/log(1+r) Where, c = (future amount)/(beginning amount) 22.76 24.82 33.46 33.80