how long will it take a sum of money to tripe itself at (i) 9.5% compound interest and (ii) 9.5% simple interest?

  1. 👍
  2. 👎
  3. 👁
  1. 3=1(1.095)^t

    assuming compounding annually.

    ln3=t*ln(1.095) solve for t.

    ii) when does t*(1.095)=2 ?

    1. 👍
    2. 👎
  2. 12.2

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math

    A man and his wife share a sum of money in the ratio 3:2. If the sum of money is doubled, then in what ratio should they divide it so that the man still receives the same amount?

  2. chemistry

    3-pentanol is heated with sulphuric acid (H2SO4) to become compound M. Compound M is reacted with Br2/ H2O to form Compound N. Outline the reaction step and name the compound M and N

  3. math

    There are 10 children (aged 1 to 10 years) who have equal amounts of money. In the first transaction the eldest child gives one rupee to every child younger to him. In the second transaction, the second eldest child gives one

  4. Math

    A sum of money is shared among three brothers. The eldest receives 7/13 of it and the 13 next receives 2/3 of the remainder. If the youngest brother receives $6, find the sum of money shared.

  1. mathematics

    a sum of money is to be divided among A,B and C in the ratio 2:3:5. the largest share amount to $1200. calculate: the total sum of money to be shared ii} A's share iii} the percentage of the total amount that B receives

  2. Maths

    Four girls shared a certain sum of money. The first received 1/2 of it, the second 1/4 and the third 1/5. If the fourth girl received 25k, what was the original money?

  3. Maths

    kuldeep had a sum of money. He saved 1/4 of it. He spent 4/9 of the remaining on suitcase. a) What fraction of his money sent on suitcase? b) What fraction of his money was left?

  4. English

    Identify the structure used in each of the sentences below. 1. The hamburger came from Hamburg, Germany, and the hot dog came from Frankfurt. simple compound complex compound-complex 2. The idea of placing meat on a bun, however,

  1. Math

    3 quarters of a sum of money is 21p. What is the sum of money.

  2. Math(simple interest)

    A person borrows two equal sums of money at the time at 5% and 3.75% simple interest respectively & finds that if he repays the former sum a year before the latter the amount paid in each case is the same that is Rs.736. Find the

  3. math

    A certain sum of money was shared among 3 friends, A, B, and C. A received 3/7 of the money, and B got 2/3 as much as A. C received $49 less than A. a) Find the ratio of B’s money to C’s money. b) How much money did C receive?

  4. Mathematics

    A sum of money is to be divided among A,Band C in the ratio 2:3:5.The smallest share amounts to $600.Calculate the total sum of money to be shared.

You can view more similar questions or ask a new question.