Can someone help me with a math problem?

Suzie deposits a sum of money in a bank account that pays an annual interest of 6%. If Suzie neither deposits nor withdraws any additional money, how many years will it take for the account to grow to more than 3 times the original deposit?|||ok so each year you are getting 6% on the original money which means





if you have the original amount which is X





eahc year you are earning the 6 percent so





X(1.06)^Y = 3X


now its 1.06 since you need the total and the interest and Y s the number of years





since there is an X on each side you are left with 1.06^y = 3 Then using logariths


YLog1.06 = Log 3


Y = Log3/Log1.06


/ is divide


you answer is 18.854


you can test this by taking the number 2 and multiply it by 1.06 and you will find it will reach 6 between you 18th and 19th multiplication|||Let's see if we can figure this out by starting easy.





If $1 is put in for 1 year, at the end, the interest is 6% of $1 which is 6 cents. The amount is $1.06





At the end of the 2nd year, we have $1.06 + 6% of $1.06 = 6.36 cents = $1.1236 = 1.06^2





For n years, the dollar amount will be $1.06^n





We want at least $3 to be our final amount.





This is $1.06^n = $3.





By taking the log of both sides, we can solve for n


log($1.06^n) = log($3)


n*log($1.06) = log($3)


n = log($3)/log($1.06)


n = 18.85417... years.





Rounding up, it will take 19 years to triple the money at 6% annual interest.|||50 years. Because lets say the original deposit is 100$. 3 times that is 300$. 6% of 100 is 6, and 300/6= 50|||Answer: 19 years





= 1.06鹿鈦?br>

= 3.0255983|||50 years





EDIT darn the person above me beat me to it^^^^^|||i dont no