MATH, PLEASE HELP!

posted by .

Suppose you invest your money into an account that pays 4.0% per year compounded quarterly. How long (in years) will it take for your money to triple?

Round your answer to one decimal place.

I know I use this...
A=P(1+r/n)^nt

But to go from there and get an answer, so confused. Thank you for your help!

  • MATH, PLEASE HELP! -

    Check your 11:34am post for solution.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math

    Jim wants to deposit money in an account to save for a new stereo system in two years. He wants to have $4,000 available at the time. The following rates are available to him: 6.2% simple interest 6.1% compounded annually 5.58% compounded …
  2. Math

    Suppose you invest your money into an account that pays 4.0% per year compounded quarterly. How long (in years) will it take for your money to triple?
  3. Algebra 2

    You have $2500 to invest at 6% interest compounded quarterly. For how many years will the money need to be invested for that amount to triple?
  4. finance

    Suppose you pay $1000 into a savings account that pays 2% per year, compounded annually. How many years will would it take for the money in the account to double, to $2000?
  5. Math

    You plan to make 24 equal quarterly payments (payments are at the end of each period) into an account to pays 8% (per year compounded quarterly). If you need $5,000 at the end of 10 years (i.e. 4 years after the last payment is made …
  6. Math help

    You plan to make 24 equal quarterly payments (payments are at the end of each period) into an account to pays 8% (per year compounded quarterly). If you need $5,000 at the end of 10 years (i.e. 4 years after the last payment is made …
  7. algebra

    You deposit $3000 in an account earning 7% interest compounded continuously. The amount of money in the account after years is given by A(t)=3000 e^(0.07 t) . How much will you have in the account in 5 years?
  8. Math

    Can anybody show me step by step pls? A man invests $3000 in an account that pays 7.5% interest per year, compounded quarterly. 1. Find the amount after 3 years?
  9. Precalc

    suppose you want to invest $60,000 for ten years. You can invest your money in a CD that earns 4% interest, compounded quarterly and has no risk, or you can invest your money in futures that ear 10% interest, compounded quarterly. …
  10. algebra

    Compound interest word problem. Suppose JJ has $1000 that he invests in an account that pays 3.5% interest compounded quarterly. How much money does JJ have at the end of 5 years?

More Similar Questions