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# $3500 is invested in an account at interest rate r = 0.0355, compounded continuously. (Round your answers to two decimal places.)?

Find the time required for the amount to double.

? years

(b) Find the time required for the amount to triple.

? years

### 1 Answer

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- 1 month agoFavorite Answer
A = P * e^(r * t)

A = k * P

k * P = P * e^(r * t)

k = e^(r * t)

ln(k) = r * t

ln(k) / r = t

Note that the $3500 bit doesn't matter for this.

a) t = ln(2) / 0.0355

b) t = ln(3) / 0.0355

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