taylorgabbard96 taylorgabbard96
  • 08-07-2021
  • Mathematics
contestada

How long will it take money to triple at an APR of ​8.4% compounded​ annually?
It will take _____ years to triple an amount of money earning ​% compounded annually.

Respuesta :

kl2945 kl2945
  • 08-07-2021
bonjour,

3 = 1 (1.084)t

and solve for t.

log3 = t log1.084

t = log3 / log1.084 ≅ 13.62 years
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