Money invested at x%, compounded annually, triples in value in approximately every 112/x years. If $3500 is invested at a rate of 8%, compounded annually, what will be its approximate worth in 28 years? Choose the correct choice: A) $3,750 B) $5,600 C) $8,100 D) $15,000 E) $31,500
x=8%   112/x years=112/8= 
<gadget id="calculator">112/8</gadget>
<output>14</output>
14 years   Now, money triples every 14 years   Therefore, in 14 yrs , if $3500 triples to $10500, in 28 years, it will again triple to $10500*3=$31,500   Answer $31,500
<result>E</result>
Money invested at x%, compounded annually, triples in value in approximately every 112/x years. If $3500 is invested at a rate of 8%, compounded annually, what will be its approximate worth in 28 years?