SOLUTION: how long will it take to triple an investment of $5000 at 8% interest, compounded contiuously

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Question 250167: how long will it take to triple an investment of $5000 at 8% interest, compounded contiuously
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


The future value, , of an investment with a present value at interest rate for years compounded continuously is given by:



If you want to triple the investment, then the future value must be three times the investment, i.e. 5000 becomes 15000, so:

Solve:









But so:





You can do your own calculator work.

John