In a financial company investment compounds annually at an interest rate of 34.1% What is the smallest investment period by which time the investment will more than triple in value?  Choose one:
A) 1.2
B) 1
C) 2
D) 4
E) 3
Assume initial amount is x   Annual Interest is 34.1% so after 1 year the amount will become x * (100+34.1)/100 =&gt; x*4/3   now we need to find n for x * (4/3)^n = 3x   or in other words n = 4   4
<result>D</result>
In a financial company investment compounds annually at an interest rate of 34.1% What is the smallest investment period by which time the investment will more than triple in value?