Asked by Aliyah
Suppose you make an investment into an account with an annual interest rate of 4.8% compounded continuously. Assuming that your initial investment is positive, how long will it take for your investment to triple? Round your answer to 2 decimal places.
P=x
interes-4.8=.048
t=time
A=Pe^(rt)
A=3x
3x=xe^.048t
3=e^.048t
ln(3) =.048t ln(e)
t=ln(3)/.048
t=22.8878 years
thank you
P=x
interes-4.8=.048
t=time
A=Pe^(rt)
A=3x
3x=xe^.048t
3=e^.048t
ln(3) =.048t ln(e)
t=ln(3)/.048
t=22.8878 years
thank you
Answers
Answered by
mathhelper
correct
don't forget it asked for 2 decimal place accuracy, so
22.89 years
don't forget it asked for 2 decimal place accuracy, so
22.89 years