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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\n" ); document.write( "\n" ); 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)\"\" \"About 
You can put this solution on YOUR website!
The formula for continuously compound interest is
\n" ); document.write( "\"F%5Bv%5D+=+++Pe%5E%28tr%29\" \r
\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( "\"F%5Bv%5D+=+++Pe%5E%28tr%29\"
\n" ); document.write( "\"3P+=+++Pe%5E%28t%2A0.085%29\"
\n" ); document.write( "\"3+=+e%5E%28t%2A0.085%29\"
\n" ); document.write( "\"ln%283%29+=+%28t%2A0.085%29\"
\n" ); document.write( "\"1.098%2F0.085+=+t\"
\n" ); document.write( "\"12.92485+=+t\"
\n" ); document.write( "It takes just under 13 years\r
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