Answered

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Find how many years it takes for money to triple when invested at an annual interest rate of 4.3% compounded continuously. That’s the entire question and I’m not quite sure what to do?

Sagot :

sqdancefan

9514 1404 393

Answer:

  25.5 years

Step-by-step explanation:

The multiplier for continuous compounding at annual rate r for t years is ...

  e^(rt)

You want the value of t when that is 3 and r=0.043.

  3 = e^(0.043t)

  ln(3) = 0.043t

  t = ln(3)/0.043 ≈ 25.549 . . . . years

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