document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=781380>Question 781380</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long will it take P dollars to triple itself at 6%simple interest? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #475928 by </B><A HREF=/tutors/aboutme.mpl?userid=fcabanski><B>fcabanski(1391)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=fcabanski><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=475928\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The formula for Maturity Value (Principal plus interest) for simple interest is M = P(1+rt).  In this case, M=3P - we want to triple our original investment.<P><BR>\n" );
document.write( "3P=P(1+.06t)<P><BR>\n" );
document.write( "3 = 1+.06t<P><BR>\n" );
document.write( "3-1 = .06t = 2<P><BR>\n" );
document.write( "t = 2/.06 = 33.333.... = 33 and 1/3 years.<BR>\n" );
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