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How long will it take money to triple at an APR of 7.7 % compounded​ annually. It will take about ____ years to triple an amount of money earning 7.7% compounded annually.

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wolf1728

Answer:

Let's say the principal will grow from 100 to $300

Years = {log(total) -log(Principal)} ÷ log(1 + rate)

Years = {log(300) - log(100)} / log (1.077)

Years = {2.4771212547 - 2} / 0.032215703298

Years = .4771212547 / 0.032215703298

Years = 14.8102076272


Step-by-step explanation:


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