## Related questions with answers

Question

Find the time required for a $1000 investment to (a) double at interest rate r, compounded continuously, and (b) triple at interest rate r, compounded continuously. Round your results to two decimal places.$r = 3.75%$

Solutions

VerifiedSolution A

Solution B

Answered 1 year ago

Step 1

1 of 23In this problem, we'll apply the continuous compounding formula.

$A = Pe^{rt}$

Answered 2 years ago

Step 1

1 of 5Investment problems involving continuous compounded interest rates recalls the formula:

$\begin{aligned} A=Pe^{rt} \end{aligned}$

Where:

$\begin{aligned} A&=\text{Investment at t time}\\ P&=\text{Initial Investment}\\ r&=\text{Interest Rate}\\ t&=\text{Time} \end{aligned}$

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