document.write( "Question 536426: How long will it take for any amount of money to triple if invested at 6% annual interest and compounded quarterly and compounded monthly \n" ); document.write( "

Algebra.Com's Answer #352385 by mananth(16946) $\"\"$ $\"About$

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Either you can take x as the principal Or %100 \r
\n" ); document.write( "\n" ); document.write( "I take $100\r
\n" ); document.write( "\n" ); document.write( "Principal P = 100
\n" ); document.write( "Amount= 300
\n" ); document.write( "years=n
\n" ); document.write( "compounded (t) 4
\n" ); document.write( "Rate = 6 0.02
\n" ); document.write( "Amount = P*((n+r)/n)^n
\n" ); document.write( "
\n" ); document.write( "300 = 100 *( 1 + 0.02 )^ n*t
\n" ); document.write( "3 = *( 1 + 0.02 )^ n* 4
\n" ); document.write( "ln 3 = 4 n *ln 1.02
\n" ); document.write( " 1.1 = 4 0.01 *n
\n" ); document.write( " 18.45 = n
\n" ); document.write( "18.45 years
\n" ); document.write( "-----------------\r
\n" ); document.write( "\n" ); document.write( "Monthly
\n" ); document.write( "Principal P = 100
\n" ); document.write( "Amount= 300
\n" ); document.write( "years=n
\n" ); document.write( "compounded (t) 12
\n" ); document.write( "Rate = 6 0.01
\n" ); document.write( "Amount = P*((n+r)/n)^n
\n" ); document.write( "
\n" ); document.write( "300 = 100 *( 1 + 0.01 )^ n*t
\n" ); document.write( "3 = *( 1 + 0.01 )^ n* 12
\n" ); document.write( "ln 3 = 12 n *ln 1.01
\n" ); document.write( " 1.1 = 12 0 *n
\n" ); document.write( " 18.36 = n
\n" ); document.write( "m.ananth@hotmail.ca
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