Use logarithms to solve the problem. How long will it take an investment of $7000 to triple if the investment earns interest at the rate of 4%/year compounded daily? (Round your answer to two decimal places.) yr

Use logarithms to solve the problem. How long will it take an investment of $7000 to triple if the investment earns interest at the rate of 4%/year compounded daily? (Round your answer to two decimal places.) yr

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter1: Understanding Personal Finance

Section: Chapter Questions

Problem 9DTM

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Use logarithms to solve the problem.

How long will it take an investment of $7000 to triple if the investment earns interest at the rate of 4%/year compounded daily? (Round your answer to two decimal places.)

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