Answer:
9.694 years
Step-by-step explanation:
Let the investment is $P.
So, we are asked to determine the time it will grow to triple with the compound interest rate of 12%.
Let the time is y years.
So, from the formula of compound interest we can write
⇒
⇒
Now, taking log both sides we get,
y log 1.12 = log 3 {Since,
}
⇒ 0.04922y = 0.477712
⇒ y = 9.694 years (Answer)
Answer:
yes i think
Step-by-step explanation:
Hello,
Here is your answer:
The proper answer to this question is option D.
Here is how:
First solve the equation:
3*1=3
4*2=8
Which means your answer is D.
If you need anymore help feel free to ask me!
Hope this helps!
Which question do you need answered or both?