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31 October, 19:05

How long will it take you to triple an amount of 500 of you invest it at of 6% compounded annually? Applications of logs

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  1. 31 October, 19:43
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    3p=p (1+0.06) ^t

    3=1.06^t

    Log (3) = t*log (1.06)

    T=log (3) / log (1.06)

    T==18.9 years
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