What rate of interest compounded annually is required to triple an investment in 11 years? The rate of interest required is %.

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.49TI: Nathaly deposited $12,500 in her bank account where it will earn 4% simple interest. How much...
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What rate of interest compounded annually is required to triple an investment in 11 years?
The rate of interest required is %.
(Round to two decimal places as needed.)
Enter your answer in the answer box and then click Check Answer.
All parts showing
MacE
80
000
000
esc
F1
F2
F3
F4
FS
$
4
# 3
Transcribed Image Text:What rate of interest compounded annually is required to triple an investment in 11 years? The rate of interest required is %. (Round to two decimal places as needed.) Enter your answer in the answer box and then click Check Answer. All parts showing MacE 80 000 000 esc F1 F2 F3 F4 FS $ 4 # 3
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Transcribed Image Text:A=Po(It r=!U3-1
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