SOLUTION: find the time required for a $1000 investment to triple at interest rate r, compounded continuously r=0.0675

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Question 1180179: find the time required for a $1000 investment to triple at interest rate r, compounded continuously r=0.0675
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!

P=1000
A=3000
r=0.0675
r = 0.0675 per year,
solve the for t
t = ln(A/P) / r
t = ln(3,000.00/1,000.00) / 0.0675
t = 16.276 years