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This is a math problem, not chemistry.
So 7% is annual rate and the interest compounds 4 times a year. So the interest rate for a quarter is:
(1 + 7%)^(1/4) - 1 = 1.706%
The question is now reduce to ask what is n in the equation:
(1 + 1.706%)^n = 3
n* log(1 + 1.706%) = log(3)
n = log(3)/log(1.01706) = 65
It takes 65 quarters for any principle to triple at 7% fixed annual rate.

2007-10-19 15:48:12 · answer #1 · answered by Hahaha 7 · 0 0

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