document.write( "Question 194466: A one-time deposit is made into an account that pays an APR of 8.5% compounded continuously. How long does it take for the worth of the account to triple?\r
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document.write( "Could you please provide a detailed explanation of how you achieved the solution. Thanks!
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Algebra.Com's Answer #145908 by vleith(2983) ![]() You can put this solution on YOUR website! The formula for continuously compound interest is \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "See this URL--> http://www.moneychimp.com/articles/finworks/continuous_compounding.htm\r \n" ); document.write( "\n" ); document.write( "How long to triple? \n" ); document.write( "That is the same as asking how much time it takes for a value P to become 3P\r \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "It takes just under 13 years\r \n" ); document.write( "\n" ); document.write( " \r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |