how long will it take money to triple if it is invested at 7 compounded weekly

Answer 1

If the question is "How long will it take to triple your money invested at 7% APR compounded weekly?"

Let P = Money at the end of the periods

Po = Money initially invested

n = number of periods (52 per year in this case)

t = time in years

Then,

P = 3Po = Po(1 + .07/52)(52t) or 3 = (1.001346)(52t)

Take logarithms to obtain

Log(3) = 52t(log(1.001346)) or 52t = 816.66

So, the time in years is 816.66/52 = 15.71 years