Homework Help: clackamas

Posted by Anonymous on Monday, February 11, 2013 at 9:59pm.

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 - Steve, Tuesday, February 12, 2013 at 12:31am
(1+.12/4)^(4x) = 3
x = 9.3 years

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

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