Determine the compound interest rate,correct to two decimal places,Emile would require to triple his investment over a period of 10 years?

Answer 1

Start with simple numbers..

Assume you have $1 and want to triple it to $3.

3 = (1 + r)^10

I am assuming that it is compounded yearly.

To solve you are going to have to take the ln or log of both sides.