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A principal earns 9% per year simple interest. how long will it take for the future value to triple? (round your answer to two decimal places.) __ years
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A principal earns 9% per year simple interest. how long will it take for the future value to triple? (round your answer to two decimal places.) __ years

User AlbertoiNET
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1 Answer

4 votes

Answer:

3P = P + P(.09)t

3 = 1 + .09t

.09t = 2

t = 22.22 years

User Zan
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7.7k points
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