SOLUTION: How long would it take to triple an investment at simple interest with a rate of 4.5% per year

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Question 954710: How long would it take to triple an investment at simple interest with a rate of 4.5% per year
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
How long would it take to triple an investment at simple interest with a rate of 4.5% per year
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3P = P(1+rt)
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1+rt = 3
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rt = 2
0.045t = 2
time = 2/(0.045) = 44.44 years
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Cheers,
Stan H.
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