Asked by Ashley

How long will it take 7500 to triple itself if it is invested at 7% simple interest?
Answered by Henry
Po + Po*r*t = 3*7500 = $22,500.
7500 + 7500*0.07*t = 22,500,
525t = 22500 - 7500 = 15000,
t = 28.6trs.

Answered by Henry
Correction: t = 28.6 Years.