Answer:
18.26 yrs
Explanation:
Calculation for how long will it take for her funds to triple
Based on the information given we were to use financial calculator to find How long will it take for her funds to triple
I/YR= 6.2% annually
PV=Present Value = -$5,000
PMT= 0
FV=Face Value = $15,000 ($5,000 x 3)
N (yrs)=18.26years
Therefore how long will it take for her funds to triple will be 18.26 years
