FV = PV (1+r)^n
3 = 1 (1+0.102)^n
3 = 1 ( 1.102)^n
1.102^n = 3
Take Log on both sides
Log [ 1.102^n ] = Log 3
Log [ a^b ]
= b * Log [ a ]
n * Log [ 1.102 ] = Log 3
n * 0.0422 = 0.4771
n = 0.4771 / 0.0422
= 11.31
it takes 11.31 Years to triple the value.
if you earn an annual interest rate of 10.2 percent how many years will it take...
If you earn an annual interest rate of 10.3 percent, how many years will it take to quadruple your money?
If you earn an annual interest rate of 10.3 percent, how many years will it take to quadruple your money? 14.14 years 13.05 years 12.86 years 11.31 years 12.37 years
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How many years will it take $100 to triple to $3.00 at an annual rate of 596 & Select one O a 28.5 O 0.615 O c.225 TO
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if you want to triple your money at an interest rate of 8 percent per year compounded annually, how many years would you have to leave the money in the account?