How long will it take $700 to triple itself at 10% simple interest?

1 Answer
Tony B
Nov 30, 2016

20 payments

Explanation:

$700+(10/100xx$700) is 1 payment

Let the count of payments be x

$700+x(10/100xx$700)=3xx$700

x(10/100xx$700)=(3xx$700) - £700

x($70)=$1400

x=($1400)/($70) = 140/7=20

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