Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How many years will it take for your deposit to triple if you place it in an account that earns 6.0% a year (compounded annually)?

How many years will it take for your deposit to triple if you place it in an account that earns 6.0% a year (compounded annually)?

The answer is 18.9. Can you please show work on how to get this answer.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introductory Econometrics For Finance

Authors: Chris Brooks

3rd Edition

1107661455, 9781107661455

More Books

Students also viewed these Finance questions

Question

3. Where is the job to be accomplished?

Answered: 1 week ago