Question

LOGS:
the compound interest formula A=P(1.08)^t gives the value of an investiment of $P after t Years at 8% compounded annually. how long will it take for such an investiment to triple.

Answer 1

i'm horrible with logs but couldn't you just evaluate say when P=1, A=3 and solve for t

Answer 2

3 = (1.08)^t

log 3 = t log 1.08
t = log 3 /log 1.08
t = 14.29 years

Answer 3

exactly

Answer 4

i thought zarkon was going to do it

Answer 5

thanks guys great work