Mr. Montefalco a fisherman from Alegria Province initially invested ₱500,000.00 in a local cooperative and wanted a double amount form its initial investment, Using the formula from the previous lesson on exponential function A= P(1 + r)^n where: A is the future value; P is the present value; r is the interest rate and n is the number of years, how many years will it take an investment to triple if the annual interest rate is 6%?​

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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Mr. Montefalco a fisherman from Alegria Province initially invested ₱500,000.00 in a local cooperative and wanted a double amount form its initial investment, Using the formula from the previous lesson on exponential function A= P(1 + r)^n where: A is the future value; P is the present value; r is the interest rate and n is the number of years, how many years will it take an investment to triple if the annual interest rate is 6%?​

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