SOLUTION: How long will it take money to triple at an APR of 6.4​% compounded​ annually

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Question 1098770: How long will it take money to triple at an APR of 6.4​% compounded​ annually
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+V+=+P%2A%28+1+%2B+r%2F1+%29%5E%28+1%2At+%29+
+r+=+.064+
+V+=+3P+
+3P+=+P%2A%28+1+%2B+.064+%29%5Et+
+3+=+1.064%5Et+
+log%283%29+=+log%28+1.064%5Et+%29+
+.47712+=+t%2Alog%28+1.064+%29+
+.47712+=+.02694t+
+t+=+17.7094+
It will take 17 years for the money to triple
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check:
+3+=+1.064%5Et+
+3+=+1.064%5E17.7094+
+3+=+2.999992+
close enough -error due to rounding off