SOLUTION: Please help me solve this word problem:A sum of money at compound inerest amounts to thrice itself in 3 years. In how many years will it be 9 times itself?

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Question 1088115: Please help me solve this word problem:A sum of money at compound inerest amounts to thrice itself in 3 years. In how many years will it be 9 times itself?
Found 2 solutions by Boreal, MathTherapy:
Answer by Boreal(15235)   (Show Source): You can put this solution on YOUR website!
Start with P
in 3 years, one has 3P
in 3 more years, one has 9P
6 years
check
P=Poe^(rt)
P/Po=9
9=e^(rt)
ln 9=rt
ln9/6=t=0.3662
---------------See if 36.62% interest triples money in 3 years
P=Po*e^(.03662*3)
P/Po=e^(1.0986)=3
Answer by MathTherapy(10551)   (Show Source): You can put this solution on YOUR website!

Please help me solve this word problem:A sum of money at compound inerest amounts to thrice itself in 3 years. In how many years will it be 9 times itself? 
Assuming ANNUAL compounding, an amount will triple in 3 years, at an interest rate of 0.44224957, or 44.22%

Again, assuming ANNUAL compounding, and at an interest rate of 0.44224957, or 44.22%, an amount will be 9 TIMES ITSELF in:  

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