$12,000 is invested at a rate of 7% / annum compounded annually. How long will it take to triple?

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.3: The Natural Exponential Function
Problem 8E
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7. $12,000 is invested at a rate of 7% / annum compounded annually. How long will it take to triple?
A = P(1 + i)"
P =
A =
i =
n =
Transcribed Image Text:7. $12,000 is invested at a rate of 7% / annum compounded annually. How long will it take to triple? A = P(1 + i)" P = A = i = n =
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