Mary Nicole S.
asked 05/28/20How long will it take $1000 to triple itself if it is earning interest at an annual rate of 6 percent compounded annually?
Please help me, i really need to have an answer to this word problem because it is part of our online task , please
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1 Expert Answer

Patrick B. answered 05/28/20
Tutor
4.7
(31)
Math and computer tutor/teacher
3 = (1.06)^t
log 3 = t * log 1.06
log 3/ log 1.06 = t
t = 18.85417559-
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Mary Nicole S.
Thank you so much sir05/31/20