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How long will it take an investment of $400 earning 3% annual interest compounded monthly to triple in value?

How long will it take an investment of $400 earning 3% annual interest compounded monthly to triple in value?
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How long will it take an investment of $400 earning 3% annual interest compounded monthly to triple in value?

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User Isherwood
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Answer:

$12 is 3% of $400, triple the value is $1200, it would take 100 months, or 8 years

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User Aguayma
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