To the nearest year, it will it take #18# years for an investment to triple, if it is continuously compounded at #6%# per year. Show
An investment #P# compounded continuously at a rate of interest of #r%# per year for #t# years becomes #Pe^(rt)#, where #e# is the Euler's number, an irrational number, after Leonhard Euler whose value is #2.71828182845904523536....# and logarithm to base #e# is mentioned as #ln#, known as natural log. As in #t# years, investment triples, it becomes #3P# Hence #Pe^(0.06t)=3P# or #e^(0.06t)=3# i.e. #0.06t=ln3=1.0986122887# therefore #t=1.0986122887/0.06=18.31# hence to the nearest year, it will it take #18# years for an investment to triple, if it is continuously compounded at #6%# per year. Problema SolutionHow long will it take for an investment to triple if it is compounded continuously at 14%? Answer provided by our tutorsLet P = the principal (the investment) t = the time in years r = 0.14 or 14% the annual interest rate A = 3P the future value (the investment will triple) the future value formula is: A=Pe^(rt) we
plug the above values and get: 3P = Pe^(0.14t) Pe^(0.14t) = 3P ........ click here to see all the equation solution steps ........ t = 7.85 years It will take 7.85 years for the investment to triple. %? It will take how many years before the investment triples. (Round to the nearest tenth of a year.) Answer & Explanation Solved by verified expert Rated Helpful ipiscing eli inia pulvina ce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fu Unlock full access to Course Hero Explore over 16 million step-by-step answers from our library Subscribe to view answer Student reviews 100% (2 ratings) m ipsum dolor sit amet, consectet pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar Unlock full access to Course Hero Explore over 16 million step-by-step answers from our library Subscribe to view answer a. Fusce dui facilisis ce dui lectus, et, consectetu rem ipsum dolor sit amet, co ia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. L Unlock full access to Course Hero Explore over 16 million step-by-step answers from our library Subscribe to view answer sus ante, dapibus a molestie consequat, ultrices ac magna m ipsum dolor sit amet, consectetur adipisci ipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet ctum vitae odio. Donec aliquet. Lorem ipsum Unlock full access to Course Hero Explore over 16 million step-by-step answers from our library Subscribe to view answer  m ipsum o. Donex cing elit. Nam lacinia ac, dictum vitrisus llenrisusF ur laoreet. Nam sum dolor sit amet, consectetur adipiscing iscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapib Unlock full access to Course Hero Explore over 16 million step-by-step answers from our library Subscribe to view answer usce dui l ec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lore Unlock full access to Course Hero Explore over 16 million step-by-step answers from our library Subscribe to view answer Step-by-step explanation ipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentes m riolx,aciniat,aciniaaciniaix ur laoreeim risus ante, dapibus a molestie consetctum vitae odio. Donec aliqu,llentesque dapibus efficitur laoreet. Nam rxipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pe,inia pulvinar tortor nec facilisis. Pellentesque dapiiitur laoreet. Nam risus ante, dapibus a moltia pulvinar iturio,tl m ri,o0,0ll nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce d m ri,totxec fac0,0lsxec facec facl acinia pulvinar tortor nec facilisis. Pxitur laoreet. Nam risus ante, itur,oxec fac0,0lsxec facec faciturl or nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus, ituriix,toiixxec fac0,0lsxec facec factl ituriix,to0,0lcingxl iturxoec fac0,0lec facec faciix,tec facec faco,t,llonec How long will it take for an investment to triple if it is compounded continuously?Answer and Explanation: Hence, it will take approximately 36.62 years to triple the investment when compounded continuously.
How long will it take for an investment to triple if it is compounded continuously at 12?Answer and Explanation: Hence, it will take 9.2 years for an investment to triple if it is compounded continuously at 12%.
How long will it take for an investment to triple if interest is compounded continuously at 8%?Answer and Explanation:
The answer to the question is 14.3 years. There are two ways to get this answer. 1. Rule 115 where you divide 115 by the interest rate (115/8 = 14.3).
How long will it take for the investment to triple in value?Rule of 115: If 115 is divided by an interest rate, the result is the approximate number of years needed to triple an investment. For example, at a 1% rate of return, an investment will triple in approximately 115 years; at a 10% rate of return it will take only 11.5 years, etc.
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How long will it take for an investment to triple, if interest is compounded continuously at 4%?
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