SOLUTION: How long will it take for an investment to triple if it is compounded continuously at 4​%?

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Question 1178393: How long will it take for an investment to triple if it is compounded continuously at 4​%?
Answer by greenestamps(13200) About Me  (Show Source):
You can put this solution on YOUR website!


P%28t%29+=+P%280%29%2Ae%5E%28rt%29
P%28t%29%2FP%280%29=e%5E%28rt%29

We want to find the time for the ratio P(t)/P(0) to be 3 if the interest rate is 4% = .04:

e%5E%28.04t%29=3
.04t+=+ln%283%29
t+=+ln%283%29%2F.04

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