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maths

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how long will it take a sum of money to tripe itself at (i) 9.5% compound interest and (ii) 9.5% simple interest?

  • maths -

    3=1(1.095)^t

    assuming compounding annually.

    ln3=t*ln(1.095) solve for t.

    ii) when does t*(1.095)=2 ?

  • maths -

    12.2

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