document.write( "Question 77515: How long will it take $8000 to triple itself if it is invested at 6% simple interest.\r
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Algebra.Com's Answer #55600 by Edwin McCravy(20055) $\"\"$ $\"About$

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document.write( "How long will it take $8000 to triple itself if it is 
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document.write( "invested at 6% simple interest. \r
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document.write( "For $8000 to triple, it must become $24000\r
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document.write( "    A = P + Prt\r
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document.write( "24000 = 8000 + 8000(.06)t\r
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document.write( "24000 = 8000 + 480t\r
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document.write( "16000 = 480t\r
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document.write( "Divide both sides by 480\r
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document.write( "33.33 = t\r
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document.write( "Answer: 33 years and 4 months.\r
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document.write( "That's not keeping up with inflation because
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document.write( "33 years ago a gallon of gas was less than 40 cents. \r
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document.write( "Edwin  \n" );
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