Question
How long will it take P dollars to triple itself at 14% simple interest?
Answers
Jacqueline
3p=p(1+ 0.14t) divide by p to get
3=1+ 0.14t
0.14t=3-1
t=2/0.14
t=14.286 years
3=1+ 0.14t
0.14t=3-1
t=2/0.14
t=14.286 years