Investment $35000

Rate 3.25% compound monthly

how long to quadruple
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1 Answer

kompound interest...yu ask for time tu "quadrupel"

that meen (end $) / (start $=4

dont need the start $...not a fakter heer

monthly kompound...konvert 1.0325 tu 1.0027083, but kompound 12 times a yeer

thus, 1.0027083^numpound=4

take logs...numpound*log(1.0027083)=log(4)

numpound=log(4) / log(1.0027083)

log(4)=0.602059991

log(1.0027083)=0.001174609864

numpound=512.56 or about 513

12 months per yeer, so thats 42.7 yeers
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