What rate of interest compounded annually is required to triple an investment in 10 years?

The interest rate should be 11.6%.

Step-by-step explanation:

Let us assume that at r% rate of interest compounded annually is required to triple an investment of $P in 10 years.

So, using the formula of compound interest, we can write

⇒

⇒

⇒

⇒ r = 11.6 %

Therefore, the interest rate should be 11.6%. (Answer)

answer: evaluate the objective function at each vertex to determine which - and -values, if any, maximize or minimize the function. example: find the minimum value and maximum value of the objective function f ( x , y ) = 4 x + 5 y , subject to the following constraints