SOLUTION: Solve the given problem releated to continuous compounding interest. How long will it take $1,400 to triple if it is invested at an annual interest rate of 5.3% compounded conti

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Question 1006195: Solve the given problem releated to continuous compounding interest.
How long will it take $1,400 to triple if it is invested at an annual interest rate of 5.3% compounded continuously? Round to the nearest year.
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
P=Poexp^(rt)
P/Po=3
3=exp^rt
ln3=rt
ln3/0.053=t
t=21 years