(Round up to the next year.)
a. How many years does it take for $1 to become $3 at 5% interest compounded continuously?
b. How many years does it take for $1,000,000 to become $3,000,000 at 5% interest compounded continuously?
a. 3 = 1 e^(.05 t) ... ln(3) = .05 t
b. same growth as a. , so same time