View Full Version : interest question...
shhhnake_eyes
02-22-2006, 02:54 AM
At a 6.9% annually compounded rate, how long will it take to triple your money?
ChromePony
02-22-2006, 04:56 AM
These are fun (http://www.moneychimp.com/calculator/compound_interest_calculator.htm)
I get about 16.5 by trial and error.
ChromePony
02-22-2006, 05:00 AM
Conversely you can actually do the math yourself, it aint that hard, especially for annual compunding.
Annual:
P = Po * (1+r)^t
Or In General:
P = Po * (1+r/c)^t*c
where c is number of compunds/year
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