You deposited $160,000 into an education savings plan, hoping to have
$420,000 available 12 years later when your first child starts university.
However, you did not invest very well, and two years later, the accounts
balance has dropped to $140,000. Let
Consider an investment of $1,000.
Using a financial calculator, calculate the time taken for this
investment to treble in value to $3,000 at an interest rate of 2% per
annum compounded annually. Round your answer down to the
Using a fina