Question 1128877
{{{ A = P*( 1 + r/n )^(n*t) }}}
{{{ A = 3P }}}
{{{ r = .06 }}}
{{{ n = 4 }}}
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{{{ 3P = P*( 1 + ( .06/4 ) )^(4*t) }}}
{{{ 3P = P*1.015^( 4t ) }}}
{{{ 3 = 1.015^( 4t ) }}}
Take the log of both sides
{{{ log(3) = 4t*log( 1.015 ) }}}
{{{ .4771 = 4t*.006466 }}}
{{{ .4771 = .02586t }}}
{{{ t = 18.4464 }}} yrs
This is 18 yrs 5 months 11 days approx
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check:
{{{ 3 = 1.015^( 4*18.4464 ) }}}
{{{ 3 = 1.015^73.7856 }}}
{{{ 3 = 2.9998 }}}
close enough -error due to rounding off