Suppose that a dollar placed into an account triples every 12 years. How much will be in the account after 60 years?

The answer is 15 dollars

Mkay. So first you just want to find how many periods of 12 years there are in the total 60 years.

60/12 = 5

So that means we will be tripling the dollar five times.

Tripling is basically multiplying by 3. So ima be lazy and:

So the first time: 1 * 3 = 3

Second: 3 * 3 = 9

Third: 9 * 3 = 27

Fourth: 27 * 3 = 81

Fifth: 81 * 3 = 243

So there will be 243 dollars in the account after 60 years.