What rate compounded annually will triple any sum in four years?

At a rate of interest of 3.86\% compounded annually investment will be tripled.

How long will it take money to triple at an APR of compounded annually?

It will take about 12 years to triple an amount of money earning 6.5\% compounded annually.

At what rate of interest under SI will the sum gets tripled?

So rate of percentage per annum must be 12.5\% to triple the sum.

What formula do you use for compounded annually?

It is to be noted that the above-given formula is the general formula when the principal is compounded n number of times in a year. If the given principal is compounded annually, the amount after the time period at percent rate of interest, r, is given as: A = P(1 + r/100)t, and C.I. would be: P(1 + r/100)t – P .

How long will it take any sum to triple itself with a 12\% interest rate compounded annually?

t= 7.32 years (7 years 117 days).

How long in years will it take your money to triple at an annual percentage rate of 5\% compounded annually use logarithms to solve round and show 2 decimal places?

It will approximately take 18 years 10 months.

How long will it take money to triple at an APR of 6.2 compounded annually?

How do you triple a number?

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At what rate of simple interest will a sum of money be tripled in 16 years?

So, in further calculations for finding the rate of interest, they will end up with, rate=3×10016⇒18.75\%.

At what nominal rate compounded annually will a sum of money Triple itself in 10 years?

20\%
Detailed Solution Money triple in 10 years. Calculation: Let the principal be ‘x’. ∴ The annual rate of interest is 20\%.

How do you find annual interest rate?

The formula and calculations are as follows:

1. Effective annual interest rate = (1 + (nominal rate / number of compounding periods)) ^ (number of compounding periods) – 1.
2. For investment A, this would be: 10.47\% = (1 + (10\% / 12)) ^ 12 – 1.
3. And for investment B, it would be: 10.36\% = (1 + (10.1\% / 2)) ^ 2 – 1.

What is rate in compound interest?

Compound interest is the interest you earn on interest. This can be illustrated by using basic math: if you have $100 and it earns 5\% interest each year, you’ll have $105 at the end of the first year.

How much does a sum of money double itself in 4 years?

A sum of money double itself in 4 years at compound interest. In how many years it will become eight times at same rate of interest >> A sum of money double itsel… A sum of money double itself in 4 years at compound interest. In how many years it will become eight times at same rate of interest

How many years does it take for money to Triple itself?

A sum of money doubles itself in 10 years. How many years will it take to triple itself? Originally Answered: A certain sum of money lent out at a certain rate of interest per annum, doubles itself in 10 years. In how many years will it triple itself? Assuming it is simple interest let the initial sum be x.

How do you calculate the rate of compounding of interest?

A= P (1+r/100)^n, where A= amount, P = Principal r= Rate of interest in \% per period and n = Number of periods. The frequency of compounding is monthly. The interest rate is given as 3\% per annum. This needs to be converted to monthly interest rate.

How much will my interest rate double in 10 years?

But now that you have wasted both our time. A simple tool is the rule of 72. 72/interest rate = time to double. So 72/10 years = about 7.2\% annual interest doubles in 10 years. How long will it take for an investment to triple if it is compounded continuously at 15\%?