3 = 1(e^.035t)
ln 3 = .035t lne
t = ln3/.035 = 31.4 years
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?
2 answers
p = Po e^(.035 t)
3 = e^(.035 t)
ln 3 = .035 t
1.0986 = .035 t
t = 31.4 years
3 = e^(.035 t)
ln 3 = .035 t
1.0986 = .035 t
t = 31.4 years
1 answer