If you have 2500 to invest at 6 interest compounded quarterly. For how many years will the money need to be invested for that amount to triple?

For this case we have the following equation:

P (t) = P * (1 + r / n) ^ (n * t)

Where,

P: initial investment

r: interest rate

n: periods

Substituting values:

3 * 2500 = 2500 * (1 + 0.06 / 4) ^ (4 * t)

Rewriting:

3 = (1,015) ^ (4 * t)

Clearing t:

log1.015 (3) = log1.015 ((1.015) ^ (4 * t))

4 * t = log1.015 (3)

t = (1/4) * log1.015 (3)

t = 18.45 years

Answer:

the money will need to be invested 18.45 years for that amount to triple