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21 November, 10:35

At approximately what rate would you have to invest a lump-sum amount today if you need the amount to triple in six years, assuming interest is compounded annually?

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  1. 21 November, 11:00
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    3p=p (1+r) ^6

    3 = (1+r) ^6

    R=3^ (1/6)) - 1=0.2*100=20%
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