SOLUTION: How long will it take B dollars to triple itself at 13% simple interest?
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Question 87613: How long will it take B dollars to triple itself at 13% simple interest?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
How long will it take B dollars to triple itself at 13% simple interest?
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Value after n periods : V = P(1+nr)
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Your ProblemL
3B = B(1+n(0.13)}
3 = 1+0.13n
2 = 0.13n
n= 15.38 years
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Cheers,
Stan H.
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