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.

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked Nov 1, 2022 227k views

2 votes

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.

Mathematics
college

Lexspoon asked

by Lexspoon

5.1k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

1 vote

bonjour,

3 = 1 (1.084)t

and solve for t.

log3 = t log1.084

t = log3 / log1.084 ≅ 13.62 years

Antonio Narkevich answered Nov 6, 2022

by Antonio Narkevich

4.3k points

0 Comments

Please log in or register to add a comment.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.2m questions

6.8m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

0 Comments

Please log in or register to add a comment.

Other Questions