Asked by judith

how long will it take a sum of money to tripe itself at (i) 9.5% compound interest and (ii) 9.5% simple interest?
Answered by bobpursley
3=1(1.095)^t

assuming compounding annually.

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

ii) when does t*(1.095)=2 ?
Answered by Ifiok Ufford
12.2
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