taylorgabbard96 taylorgabbard96

08-07-2021
Mathematics

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How long will it take money to triple at an APR of 8.4% compounded annually?
It will take _____ years to triple an amount of money earning % compounded annually.

Respuesta :

08-07-2021

bonjour,

3 = 1 (1.084)t

and solve for t.

log3 = t log1.084

t = log3 / log1.084 ≅ 13.62 years

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