SOLUTION: how long does a sum of money takes to triple itself at a simple interest rate of 7.5% per annum?

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Question 764928: how long does a sum of money takes to triple itself at a simple interest rate of 7.5% per annum?
Answer by MathLover1(20850) About Me  (Show Source):
You can put this solution on YOUR website!
Simple interest:
3P=P%281%2B0.075%2At%29
3cross%28P%29=cross%28P%29%281%2B0.075%2At%29
3=%281%2B0.075%2At%29
Solve for t:
3-1=0.075%2At%29
t=%283-1%29%2F0.075+=+2%2F0.075+
t=26.66666666666666666666666666666666666666666666666666666666666+
t=26.7+