Post a New Question

clackamas

posted by on .

Consider a $100 investment earning 12% compounded quarterly. How long will it take to triple your money? Round your answer to the nearest tenth of a year.

  • clackamas - ,

    (1+.12/4)^(4x) = 3
    x = 9.3 years

    Makes sense. The Rule of 72 says it will double in about 6 years.

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question