Mkay. So first you just want to find how many periods of 12 years there are in the total 60 years.
60/12 = 5
So that means we will be tripling the dollar five times.
Tripling is basically multiplying by 3. So ima be lazy and:
So the first time: 1 * 3 = 3
Second: 3 * 3 = 9
Third: 9 * 3 = 27
Fourth: 27 * 3 = 81
Fifth: 81 * 3 = 243
So there will be 243 dollars in the account after 60 years.
