Solve the problem.
-How long does it take $1125 to triple if it is invested at 7% interest, compounded quarterly? Round your answer to the nearest tenth.
A) 15.8 years
B) 18.1 months
C) 15.8 months
D) 18.1 years

Question

Quizplus · Accepted Answer

The correct answer is A because it takes 15.8 years for $1125 to triple if it is invested at 7% interest, compounded quarterly.

Solve the Problem. -How Long Does It Take $1125 to Triple If It