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At approximately what rate would you have to invest a lump-sum amount today if you need the amount to triple in six years, assuming interest is compounded annually?
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At approximately what rate would you have to invest a lump-sum amount today if you need the amount to triple in six years, assuming interest is compounded annually?

User Stefana
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1 Answer

4 votes
3p=p(1+r)^6
3=(1+r)^6
R=3^(1/6))-1=0.2*100=20%
User Huseyint
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