P = $490 the principal

t = the time in years

r = 0.06 or 6% annual rate

m = 12 compounding periods per year

i = 0.06/12 = 0.005 interest rate per period

n = t*12 = 12t total number of compounding periods

A = $1,057.49 future value

A = P(1 + i)^n

P(1 + i)^n = A

490(1 + 0.005)^(12t) = 1,057.49 divide both sides by 490

(1.005)^(12t) = 1,057.49/490

12t* ln (1.005) = ln (1,057.49/490)

t = (1/12)(ln (1,057.49/490)/ln (1.005))

t = 12.85 years

it will take 12.85 years.