If Money Is Invested at an Annual Return Rate of R

question 76

Short Answer

If money is invested at an annual return rate of r%, the number of years it takes to triple in value is given by $t = \frac { 100 \ln 3 } { r }$ ( r expressed as a percent ) . How long would it take the value of a mutual fund to triple if it averages 13% growth per year? Round to the nearest tenth of a year.

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