At an annual interest rate of 20 percent, about how many years will it take $100 to triple in value? O a. 8 b.6 OCS O d.9

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter17: Financial Markets
Section: Chapter Questions
Problem 6SCQ: What is the total amount of interest from a 5,000 loan after three years with a simple interest rate...
icon
Related questions
Question
At an annual interest rate of 20 percent, about how many years will it take $100 to triple in value?
O a. 8
b.6
OCS
O d.9
Transcribed Image Text:At an annual interest rate of 20 percent, about how many years will it take $100 to triple in value? O a. 8 b.6 OCS O d.9
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
steps

Unlock instant AI solutions

Tap the button
to generate a solution

Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax