SOLUTION: Doubling Time: If interest is compounded continuously and the interest rate is tripled, what effect will this have on the time required for an investment to double? ***I know th

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Question 115593: Doubling Time: If interest is compounded continuously and the interest rate is tripled, what effect will this have on the time required for an investment to double?
***I know that we are suppose to use the equation:
A = P(e^(rt))
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Doubling Time: If interest is compounded continuously and the interest rate is tripled, what effect will this have on the time required for an investment to double?
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Before tripling:
2Ao = Ao*e^(rt)
2 = e^rt
rt = ln(2)
t = (1/r)ln2
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After tripling:
2Ao = Ao*e^(3rt)
2 = e^(3rt)
3rt = ln2
t = (1/3r)ln2
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Cheers,
Stan H.