SOLUTION: If I invest $5,000 at 8.5% compounded quarterly how many years will it take my investment to triple

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: If I invest $5,000 at 8.5% compounded quarterly how many years will it take my investment to triple       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 844103: If I invest $5,000 at 8.5% compounded quarterly how many years will it take my investment to triple
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

In General A+=+P%281%2Br%2Fn%29%5E%28nt%29

$5,000 at 8.5% compounded quarterly how many years will it take my investment to triple

 3+=+%281.02125%29%5E%284t%29

  log(3)/4log(1.02125) = t