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math

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At approximately what rate would you have to invest a lump-sum amount today if you need the amount to triple in six years, assuming interest is compounded annually?

  • math - ,

    A=PR^6 (calculate future value from present value P)
    R^6=A/P=3 (triple)
    R=3^(1/6) (sixth root of 3)

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    12

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