SOLUTION: what rate of interest compounded annually is required to trple an investment in 7 years?

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Question 435037: what rate of interest compounded annually is required to trple an investment in 7 years?
Answer by robertb(5830) About Me  (Show Source):
You can put this solution on YOUR website!
3P+=+P%281%2Br%2F1%29%5E%287%2A1%29+=+P%281%2Br%29%5E7
<==> 3+=+%281%2Br%29%5E7
<==> root%287%2C+3%29+-+1+=+r
==> 1.16993 - 1 = r, or r = 0.16993, or r = 16.993%