Question ID 534377

Created April 21, 2011 12:07am UTC

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URL https://questions.llc/questions/534377

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Let n = number of years required: Compound interest: 3P=P(1.095)^n Solve for n: 3=1.095^n take log on both sides: n log(1.095)=log(3) n = log(3)/log(1.095) Simple interest: 3P=P(1+0.095*n) Solve for n: n=(3-1)/0.095 = 2/0.095

Answer ID 534682

Created April 21, 2011 4:04pm UTC

URL https://questions.llc/answers/534682

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