SOLUTION: how many years will it take $2600 to triple itself if it is invested at 3.6% simple interest

Algebra ->  Algebra  -> Customizable Word Problem Solvers  -> Misc -> SOLUTION: how many years will it take $2600 to triple itself if it is invested at 3.6% simple interest      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com
Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!
Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations!

   

Question 105976: how many years will it take $2600 to triple itself if it is invested at 3.6% simple interest
Answer by edjones(7569) About Me  (Show Source):
You can put this solution on YOUR website!
2600*.036x=3*2600
93.6x=7800
x=7800/93.6=83 1/3 yrs or 83 yrs 4 months
That is why you want compound interest.
Ed