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Approximately how long would it take an investment that is compounded annually to triple at an interest rate of 6%?

Approximately how long would it take an investment that is compounded annually to triple at an interest rate of 6%?
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Approximately how long would it take an investment that is compounded annually to triple at an interest rate of 6%?

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User Mohammad Alaggan
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1 Answer

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3p=p(1.06)^t
3=1.06^t
T=log(3)÷log(1.06)
T=18.9 years
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User Arek Holko
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