Use the following formula for compound interest. If P dollars in invested at an annual interest rate r (expressed as a decimal) compounded n times yearly, the amount of A after t years is given by A = P(1 + r/n)^nt How long will it take a sum of money to triple if it is invested at 10% compounded daily? Round to the nearest hundredth of a year.  _______?______ years

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Use the following formula for compound interest. If P dollars in invested at an annual interest rate r (expressed as a decimal) compounded n times yearly, the amount of A after t years is given by

A = P(1 + r/n)^nt

How long will it take a sum of money to triple if it is invested at 10% compounded daily? Round to the nearest hundredth of a year. 

_______?______ years

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