Calculate the Number of Years for Money to Triple at 3.6

question 65

Essay

Calculate the number of years for money to triple at 3.6% p.a. compounded monthly.

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Definitions:

American Indians

The indigenous peoples of the Americas, often referred to as Native Americans, with diverse cultures, histories, and nations present before and after European colonization.

Jesuits

Members of the Society of Jesus, a Roman Catholic order of priests and brothers founded in the 16th century, known for their educational, missionary, and charitable works.

Columbian Exchange

The widespread transfer of plants, animals, culture, human populations, technology, and ideas between the Americas and the Old World in the 15th and 16th centuries, following Christopher Columbus's 1492 voyage.

Bartolomé De Las Casas

A 16th-century Spanish friar, historian, and social reformer who became an advocate for the rights of indigenous peoples of the Americas, denouncing their exploitation and abuse by European colonizers.