1) The initial investment in dollars was E. $400.
2) The account's value 6 years after the initial investment is I. $592.
3) After 8 years, the total interest that has been earned is B. $256.
4) Given the interest rate as 8%, the account will triple in 14.275 years.
We can use an online finance calculator to compute the period of investment required for the account to triple.
I/Y (Interest per year) = 8%
PV (Present Value) = $400
PMT (Periodic Payment) = $0
FV (Future Value) = $1,200 ($400 x 3)
Results:
N (# of periods) = 14.275 years
Total Interest = $800.00
Thus, in 14.275 years, the account will triple from $400 to $1,200.