SOLUTION: A one-time deposit is made into an account that pays APR OF 8.5% compounded continuously. how long does it take for the worth of the account to triple?
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Question 325440: A one-time deposit is made into an account that pays APR OF 8.5% compounded continuously. how long does it take for the worth of the account to triple?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
t=log m/log (1+e)
t=log 3/log 1.085
t=0.47712/0.0354297
t=13.47 yrs
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