## rachelk09 Group Title How many years would it take for an investment to triple at 6% APR compounded annually one year ago one year ago

1. LolWolf

Annual compounding: $3 = (1+.06)^n$Where $$n$$ is the number of years. So, working from this: $\log_{1.06}(3)=n\implies\\ \frac{\ln(3)}{\ln(1.06)}=n\approx 18.8542\text{ years}$

2. rachelk09

Thank you very much!!

3. LolWolf

Sure thing.