Question

How many years would it take for an investment to triple at 6% APR compounded annually

Answer 1

Annual compounding:
\[
3 = (1+.06)^n
\]Where \(n\) is the number of years.
So, working from this:
\[
\log_{1.06}(3)=n\implies\\
\frac{\ln(3)}{\ln(1.06)}=n\approx 18.8542\text{ years}
\]

Answer 2

Thank you very much!!

Answer 3

Sure thing.