math

posted by .

Approximately how long will it take an investment of $300 to triple, if the interest rate is 3.5% per year compounded continuously?

  • math -

    Formula: A(t)=Pe^rt
    A=3*300=900
    r=3.5%=0.035
    P=300
    => 900=300e^0.035t
    =>3=e^0.035t
    =>ln3=lne^0.035t
    =>1.09=0.035t
    =>t=1.09/0.035=31 yeears

  • math -

    correct

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. calculus

    How long will it take an investment to triple in value if the interest rate is 4% compounded continuously?
  2. calculus

    How long will it take an investment to triple in value if the interest rate is 4% compounded continuously?
  3. business math

    How long, to the nearest year, will it take an investment to triple if it is continuously compounded at 16% per year?
  4. Calculus

    An investment grows ar a rate of 2.5% each year compounded continuously. Approximately how long will it take the investment to double?
  5. Math

    How long, to the nearest year, will it take an investment to triple if it is continuously compounded at 18% per year?
  6. Pre-Cal

    If the interest on a long-term Canadian(3/8%) investment is compounded continuously, how long will it take the value of an investment to triple?
  7. math

    How long will it take for an investment of $13,000 to double if the investment earns interest at the rate of 6%/year compounded continuously?
  8. math

    How long it will take for an investment of 1000 dollars to double in value if the interest rate is 9.5 percent per year, compounded continuously?
  9. Math

    How long it will take for an investment of 2000 dollars to double in value if the interest rate is 9.5 percent per year, compounded continuously?
  10. How long will it take the investment to double?

    $3,600 is invested in an account at an annual interest rate of 4.8% compounded continuously. How long, to the nearest tenth of a year, will it take the investment to double in size?

More Similar Questions