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rachelk09

  • 3 years ago

How many years would it take for an investment to triple at 6% APR compounded annually

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  1. LolWolf
    • 3 years ago
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    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
    • 3 years ago
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    Thank you very much!!

  3. LolWolf
    • 3 years ago
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    Sure thing.

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