clackamas

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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.

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