geezwell9110 geezwell9110

18-11-2020
Business

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You have $5,000 invested in a bank that pays 3.8% annually. How long will it take for your funds to triple?

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gurinder gurinder

18-11-2020

Using compound interest
5000 x 1.035^32 gives me 15033 which is triple the original value, therefore it’s 32 years

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