Question

how long would it take for you to triple your money if you invest at a rate of 6% a year compounded annually?

Answer 1

\[(1.06)^t=3\] solve for \(t\)

Answer 2

in one step using
\[b^x=A\iff x=\frac{\ln(A)}{\ln(b)}\]

Answer 3

19 years

1.06^19=3.0256