The time it takes for money to triple in an account where r is the interest rate
Question:
The time it takes for money to triple in an account where r is the interest rate expressed as a decimal compounded annually is given by the formula
Use the compound interest formula to derive this result.
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Step by Step Answer:
To calculate how long it takes money to double divide the interest rate into 72 To ...View the full answer
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Dudhat Vaidehi
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Related Book For 
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
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