<PRE><B>Question 754779</B>
If $8,000 is placed in an account with an annual interest rate of 6%, how long will it take the amount to triple if the interest is compounded annually? 
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A(t)=P(1+(r/n))^(nt)
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Solve:
(1+(0.06/1))^(1*t) = 3
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(1.06)^t = 3
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t = log(3)/log(1.06)
t = 18.85 years
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Cheers,
Stan H.
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