SOLUTION: What rate of interest compounded annually is required to triple an investment in 10 years?

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Question 418772: What rate of interest compounded annually is required to triple an investment in 10 years?
Found 2 solutions by Alan3354, ewatrrr:
Answer by Alan3354(69443)   (Show Source): You can put this solution on YOUR website!
Do it like this one.
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What rate of interest compounded annually is required to double an investment in 6 years?
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2A = A*(1 + r)^6
(1 + r)^6 = 2

1 + r =~ 1.1225
r =~ 12.25%

Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!

Hi
What rate of interest compounded annually is required to triple an investment in 10 years?
A= p(1+r)^t
A/p = (1+r)^t
3 = (1+r)^10
1.116 = 1 + r
.116 = r 11.6%

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