Question

you deposit 8500 dollars in an account that pays you 3.5 % interest compounded continuously. How long will it take for the money to triple?

Answer 1

3 = 1(e^.035t)
ln 3 = .035t lne
t = ln3/.035 = 31.4 years

Answer 2

p = Po e^(.035 t)

3 = e^(.035 t)

ln 3 = .035 t

1.0986 = .035 t

t = 31.4 years