Rounded to the Nearest Month, How Long Will It Take

question 63

Short Answer

Rounded to the nearest month, how long will it take an investment to triple if it earns:
a) 9% compounded annually?
b) 8% compounded quarterly?

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Definitions:

Physiological Needs

Basic essential requirements for human survival, such as food, water, and shelter.

Safety and Security

Refer to measures and protocols implemented to protect individuals from harm or danger, ensuring physical wellbeing and protection against threats.

Motivated

Having a desire or willingness to act or work towards achieving personal or defined goals.

Self-Actualising

Self-actualising refers to the realization or fulfillment of one's talents and potentialities, especially considered as a drive or need present in everyone.