Register
how many years will be required for a given sum of money to triple, if it is deposited in a bank account that pays 6% per year compound annualy
229k views
4 votes
how many years will be required for a given sum of money to triple, if it is deposited in a bank account that pays 6% per year compound annualy

User Richard Hedges
by
7.5k points

1 Answer

3 votes

Answer:

19 years

Step-by-step explanation:

the 19th year your money will triple and be worth 3.0256 times the original sum.

User JamieNewman
by
7.8k points
← Prev Question Next Question →

Related questions

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

9.5m questions

12.2m answers

Other Questions

Who was Adam Smith ? Anybody?
What can turn igneous rock into sediment?
In what way did the GI Bill contribute to the growth of professional and white-collar jobs ? A.by providing US laborers with new job-training programs B.by giving US veterans assistance to purchase a new
What is meant by data mining ?
You sell popcorn during your schools football games. Knowing that the people usually buy more when the price is lower, how would you price your popcorn after halftime?
Link Copied!