document.write( "Question 1129162: If I invest $1,000 at 5.5% APR, what is the difference in time it takes to triple if it is compounded quarterly as opposed to compounded continuously? \r
\n" ); document.write( "\n" ); document.write( "I have gotten 20.11 years for the quarterly and 19.97 years for continuously. I think the problem is asking for this and then to subtract them, but I'm not sure.
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Algebra.Com's Answer #745737 by addingup(3677)\"\" \"About 
You can put this solution on YOUR website!
Compound:
\n" ); document.write( "t = log(A/P)/n[log(1 + r/n)]
\n" ); document.write( "= log(3000/1000)/4[log(1 + 0.055/4)]
\n" ); document.write( "= (0.48)/4[log(1.01375)]
\n" ); document.write( "= 0.48/0.0237 = 20.25 So you got 20.11 which means we got the same answer,the slight difference in decimals is very likely from decimal rounding.
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\n" ); document.write( "Continuous:
\n" ); document.write( "3000 = 1000(e^0.055t)
\n" ); document.write( "3000/1000 = e^(0.055t)
\n" ); document.write( "log(3/1) = log(e^(0.055t))
\n" ); document.write( "log(3/1) = 0.055t
\n" ); document.write( "log(3/1)/0.055 = t
\n" ); document.write( "0.477/0.055 = t = 8.67
\n" ); document.write( "Check out the math in my continuous calculations, but I think I've got it right. Unfortunately I have to leave it here. Good luck, feel free to email me.\r
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