Answer
The two investments will be equal after about $18.66$ years.
Work Step by Step
First find the exponential functions of the both investments and graph them together to find the point of intersection between them.
For the first investment, we have
$$
P_a=1000 e^{0.08 t}
$$
For the second investment, we have
$$
P_b=1500(1.06)^t
$$
The two investments will be equal after about $18.66$ years.
