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

#2**0 **

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