Tony is evaluating his retirement savings. He currently has $318,000 in his account which earns an interest rate of 7% compounded annually. He wants to determine how much he will have in the account in the future, even if he makes no additional contributions to the account.

1) Write a function, A(t), to represent the amount of money that will be in his account in t years.

2) Graph A(t) where 0≤t≤20 on a set of axes

3) Tony's goal is to save $1,000,000. Determine algebraically, to the nearest year, how many years it will take for him to achieve his goal.

4) Explain how your graph of A(t) confirms your answer.