Question

how long does it take $1125 to triple if it is invested at 7% interest. compounded quarterly?

Answer 1

\[3*1125=1125(1+\frac{0.07}{4})^{4t}\]

Answer 2

\[0.0175^{4t}=3\]\[(4t)\log(1.0175)=\log(3)\]4t=40
t=10 years

Answer 3

sorry i accumulator wrong
\[t=(\frac{\log3}{\log1.0175})\div4\]
t=15.83139073 years
than you round