SOLUTION: How long will it take money to triple if it is invested at the following​ rates?
​(A) 5.7​% compounded monthly
​(B) 12​% compounded monthly
Algebra.Com
Question 1083409: How long will it take money to triple if it is invested at the following rates?
(A) 5.7% compounded monthly
(B) 12% compounded monthly
Answer by math_helper(2461) (Show Source): You can put this solution on YOUR website!
where:
F=future value
P=present value
r=rate (as a decimal)
n=number of compounding periods per year
t=number of years
————
(A):
years —> years and months.
—
(B):
years —> years and months
RELATED QUESTIONS
How long will it take money to triple at an APR of 6.4% compounded... (answered by josmiceli)
how long will it take money to triple if it is invested at 5% compounded daily? 6%... (answered by solver91311,lwsshak3)
Find out how long it takes a $2900 investment to earn $500 interest if it... (answered by Theo)
How long (in years and months) will it take for an investment to double... (answered by greenestamps)
How long will it take $4000 to triple if it is invested at 5% compounded... (answered by Alan3354)
Paul invests $3000 in a savings account earning interest at a rate of
4%... (answered by snoreaylil,ikleyn)
how long will it take for $4300 to grow to $28600 at an interest rate of 3% (answered by stanbon)
Can someone help me how to solve this problem. I appreciate it.
As the prize in... (answered by Fombitz)
Approximately how long will it take for your money to triple if it is invested at 4.5%... (answered by stanbon)