document.write( "Question 1128047: The sum of PHP 26,000 was deposited in a fund earning interest at 8% per annum
\n" ); document.write( "compounded annually. What was the amount in the fund at the end of 3 years?
\n" ); document.write( " How long will it take money to triple itself if invested at 8% compounded annually?
\n" ); document.write( " please help me Im really bad at word problems
\n" ); document.write( " i used the formula f = P(1 + i/12)^2n for compounded annually but the answer is diffrent from what i expected. \n" ); document.write( "

Algebra.Com's Answer #744510 by ikleyn(52786) $\"\"$ $\"About$

You can put this solution on YOUR website!
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\n" ); document.write( "1. What was the amount in the fund at the end of 3 years?\r
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document.write( "    F =  = .\r\n" );
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\n" ); document.write( "\n" ); document.write( "2. How long will it take money to triple itself if invested at 8% compounded annually?\r
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document.write( "    3*26000 =   ====>\r\n" );
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document.write( "    3 = \r\n" );
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document.write( "    log(3) = n*log(1.08)\r\n" );
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document.write( "    n =  =  = 14.27 years.\r\n" );
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document.write( "    Answer.  15 years is enough.\r\n" );
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