Question

An amount of $5000 is invested at 6% per year until it triples in value. When will that be?

Answer 1

50 years

Explanation:

Assuming it doesn't compound, 5,000*3 = 15,000.

5,000 * 6% = 5,000 * 0.06 = 300.

15,000 / 300 = 50 years.