Victoria deposits money into an account bearing 5 and 3/8 % annual interst compounded continously. Calculate the following and round both answers to the

a) It will Victoria 20.44 years to triple her money @ 5 3/8% comp. continuously.

b) It will Victoria 33.34 years to sextuple her money @ 5 3/8% comp. continuously.

a) How long will it take for her money to triple?

Let A be the beginning amount .....note 5+3/8% = .05375....  and we have

3A  = Ae^(.05375 t)     divide both sides by A

3  = e^(.05375t)    tkae the ln   of both sides

ln 3  = ln e ^ (.05375t)   and we can write

ln 3   = (.05375t) ln e       and since  ln e  = 1, we can ignore this

ln 3 = (.05373t)     divide both sides by  .05735

ln (3) / .05375   = t =  about  20.44 years

b) How long will it take for her money to sextuple?

The process is similar to the first one......at the end we will have

ln (6)  / .05375   =  t = about   33.34  years