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Compound Interest (Finite Number of Calculations) - Problem 5

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Teacher/Instructor Alissa Fong
Alissa Fong

MA, Stanford University
Teaching in the San Francisco Bay Area

Alissa is currently a teacher in the San Francisco Bay Area and Brightstorm users love her clear, concise explanations of tough concepts

The rate needed for tripling an investment actually doesn't depend on how much is invested in the beginning- the ratio of amount after time to initial amount is 3. Be very careful with order of operations and keep as many decimal places as possible with your logs (exact values are best) to get the rate isolated. This process will work for doubling, as well- just replace the 3 with 2.

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