The Kelowna Go-Kart Klub wants to switch to all-electric Go-Karts powered by solar panels. The cost of installing solar panels, back-up storage, and five rental Go-Karts is

$60,000.

Members of the Kelowna Go-Kart Klub have determined that it is possible to set aside

$7000

each year and that they will have to put off their project until they have saved the

$60,000

necessary. How long will it take to save a total of

$60,000,

assuming that the interest rate is

11

percent? (Hint: Use logarithms to simplify the sinking fund factor

LOADING...

.)

It would take the Kelowna Go-Kart Klub

enter your response here

years to save enough money.