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How long will it take for a sum of money to triple in value if invested at an annual rate of 1​% compounded​ continuously?

Guest Mar 29, 2017
 #1
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can someone explain to me how to get it to?

Guest Mar 29, 2017
 #2
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FV=PV x e^(i*n)

3 = 1 x e^(0.01n)

 

Solve for n:
3 = e^(0.01 n)

e^(0.01 n) = e^(n/100):
3 = e^(n/100)

3 = e^(n/100) is equivalent to e^(n/100) = 3:
e^(n/100) = 3

Take the natural logarithm of both sides:
n/100 = log(3)

Multiply both sides by 100:
Answer: |n = 100 log(3) =109.86... Years.

Guest Mar 29, 2017

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