In this lesson, we learn how to use logarithms to solve compound interest problems, specifically one that involves figuring out how long it will take for an investment to triple. We use the compound interest formula to set up the problem and then apply logarithms to solve for the unknown variable. Through this process, we also learn that the original amount invested doesn't matter when it comes to doubling or tripling, and we can use a simplified formula to find out how long it will take for any investment to double or triple.
Compound Interest using logarithms.
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