Question 264418: How long will it take P dollars to triple itself at 10% simple interest?
i=prt ? how to I plug this in? thank you Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! How long will it take P dollars to triple itself at 10% simple interest?
i=prt ?
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A(t) = P + Prt
A(t) = P(1+rt)
3P = P(1+rt)
3 = 1+rt
rt = 2
0.10t = 2
t = 2/0.10
t = 20 years
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Cheers,
Stan H.
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