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anonymous

  • 5 years ago

How long will it take for a quantity of money (A) to triple in value if it is invested at an annual interest rate (r) compounded continuously?

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  1. anonymous
    • 5 years ago
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    A= P(1+r)^n we want A =3P

  2. anonymous
    • 5 years ago
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    3=Pe^(r*t)

  3. anonymous
    • 5 years ago
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    ln(3)=ln(e^(r*t)

  4. anonymous
    • 5 years ago
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    so 3P = P (1+r)^n (1+r)^n = 3 n ln ( 1+r) = ln(3) n = ln(3) / [ ln(1+r) ] where r is the rate as a decimal

  5. anonymous
    • 5 years ago
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    So what would be the formula for tripling time?

  6. anonymous
    • 5 years ago
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    yes, e^ you can use decimal

  7. anonymous
    • 5 years ago
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    thats it :|

  8. anonymous
    • 5 years ago
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    n is a time

  9. anonymous
    • 5 years ago
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    if 100=3(100)

  10. anonymous
    • 5 years ago
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    example 300=100e^(r*t)

  11. anonymous
    • 5 years ago
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    p=principal R=percent t+ time

  12. anonymous
    • 5 years ago
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    sorry: t=yime

  13. anonymous
    • 5 years ago
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    I'm confused with what to answer the question I was given with, because my instructor is asking for just a formula, not to evaluate.

  14. anonymous
    • 5 years ago
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    A^3= Pe^(r*t)

  15. anonymous
    • 5 years ago
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    n = ln(3) / [ ln(1+r) ] thats the answer, it is time as a function of rate "Nancy Lam" doesnt know pellet

  16. anonymous
    • 5 years ago
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    depent on you use I use r for interest percent, you can use n

  17. anonymous
    • 5 years ago
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    n is not percent, its a time , geez..you know less than the actual answerer lolz, I get 90+ for engineering maths subjects at uni , who are you going to believe :P

  18. anonymous
    • 5 years ago
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    Thank you, I understand it now!

  19. anonymous
    • 5 years ago
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    you can use any leter

  20. anonymous
    • 5 years ago
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    And thank you Nancy, I appreciate your help!

  21. anonymous
    • 5 years ago
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    Ok, bye

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