document.write( "Question 1083409: How long will it take money to triple if it is invested at the following rates?
\n" ); document.write( "(A) 5.7% compounded monthly
\n" ); document.write( "(B) 12% compounded monthly \n" ); document.write( "

Algebra.Com's Answer #697398 by math_helper(2461) $\"\"$ $\"About$

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$\"+F+=+P+%2A+%281%2Br%2Fn%29%5E%28nt%29+\"$ \r
\n" ); document.write( "\n" ); document.write( "where:
\n" ); document.write( "F=future value
\n" ); document.write( "P=present value
\n" ); document.write( "r=rate (as a decimal)
\n" ); document.write( "n=number of compounding periods per year
\n" ); document.write( "t=number of years
\n" ); document.write( "ЧЧЧЧ\r
\n" ); document.write( "\n" ); document.write( "(A): $\"+3P+=+P%2A%281%2B0.057%2F12%29%5E%2812%28t%29%29+\"$
\n" ); document.write( " $\"+3+=+1.00475%5E%2812t%29+\"$
\n" ); document.write( " $\"+ln%283%29+=+12t%2A%28ln%281.00475%29%29+\"$
\n" ); document.write( " $\"+ln%283%29%2F%2812%2Aln%281.00475%29%29+=+t+\"$
\n" ); document.write( " $\"++t+=+19.3196+\"$ years Ч> $\"+highlight%2819%29+\"$ years and $\"+highlight%283.836%29+\"$ months.
\n" ); document.write( "Ч
\n" ); document.write( "(B): $\"+3P+=+P%2A%281%2B+0.12%2F12%29%5E%2812%28t%29%29+\"$
\n" ); document.write( " $\"++3+=+1.01%5E%2812t%29+\"$
\n" ); document.write( " $\"++t+=+ln%283%29%2F%2812%2Aln%281.01%29%29+=+9.201+\"$ years Ч> $\"+highlight%289%29+\"$ years and $\"+highlight%282.41%29+\"$ months \r
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

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