Question 976002
$175 * (1.0025)^N = 3000

1.0025^N=17.1429

N(ln1.0025)=ln17.1429)

N= 1138months or 94.8 years.

Note, at 3% it takes about 24 months to double one's money. 96 years is about 4 doubles or 16X. This is a 'back of napkin' method to just see if the answer makes sense. It helps if you mess up and hit the wrong keys on the calculator.