Question
Use the formula for compound interest, a=P(1+i)^n, to determine how many years it will take for an investment of $10 000 to triple if the
Use the formula for compound interest, a=P(1+i)^n, to determine how many years it will take for an investment of $10 000 to triple if the interest rate is 7% per year, compounded quarterly.
HINT: There is a yearly interest rate that is compounded quarterly. Search "interest calculator" online to check the answer.
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An Introduction to Measure Theoretic Probability
Authors: George G. Roussas
2nd edition
128000422, 978-0128000427
