An amount is said to triple in 6 years with compound interest. How many years will it take for the amount to grow to 27 times its original value?

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Accepted Answer

1. We know the amount triples in 6 years, so $(1+i)^6=3$.  
2. We want $(1+i)^t=27$.  
3. Note $27=3^3$. So $(1+i)^t=(3)^3=((1+i)^6)^3=(1+i)^{18}$.  
4. Thus $t=18$. So the correct choice is **(a)**.  
FINAL_ANSWER: <a>

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