Question 1198824
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An investment pays simple interest, and triples in 13 years. What is the interest rate?
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<pre>
    3A  = A*(1+r*13)

    3   =    1 + 13r

    13r =    2

      r =    2/13 = 0.153846154 = 15.38%   (rounded).    <U>ANSWER</U>
</pre>

Solved (as simple as possible).


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To see many other similar &nbsp;(and different) &nbsp;solved problems on simple interest accounts, &nbsp;look into the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Simple-interest-percentage-problems.lesson>Simple interest percentage problems</A> 

in this site.


Learn the subject from there.