with interest at 7.5% compounded annually, what is the fewest number of years (integer-valued) required for money to triple in magnitude?
Added by Mary M.
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5% compounded annually, we can use the formula for compound interest: \[ A = P(1 + r)^t \] Where: - \( A \) is the amount of money accumulated after n years, including interest. - \( P \) is the principal amount (the initial amount of money). - \( r \) is the Show more…
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