# compounded annuity solving for rate using logarithms

Not what you're looking for?

If it takes 9 years for a one-time deposit in a savings account that receives interest compounded quarterly to triple, then what is the interest rate to the nearest tenth of a percent?

To answer this question, you will need to utilize the following relationship:

If ln(x) = N, where N is some number, then x = eN

(if using logarithms to the base 10, then equivalently,

If log(x) = N, then x = 10N )

Please show formula and steps.

##### Purchase this Solution

##### Solution Summary

This post applies compounded annuity solving for rate using logarithms.

###### Education

- BSc, Meerut University
- MSc, Meerut University
- MPhil, Institute of Advanced Studies
- MSc, AIT

###### Recent Feedback

- "Perfect, thank you so much!!! I will definitely request you in the future! You are amazing!"
- "Thank you. "
- "Thank you so much I have two more that I need your help with if your available."
- "Thank you, I was wondering why you rejected me the first time."
- "Thanks again."

##### Purchase this Solution

##### Free BrainMass Quizzes

##### Multiplying Complex Numbers

This is a short quiz to check your understanding of multiplication of complex numbers in rectangular form.

##### Geometry - Real Life Application Problems

Understanding of how geometry applies to in real-world contexts

##### Graphs and Functions

This quiz helps you easily identify a function and test your understanding of ranges, domains , function inverses and transformations.

##### Exponential Expressions

In this quiz, you will have a chance to practice basic terminology of exponential expressions and how to evaluate them.

##### Probability Quiz

Some questions on probability