## 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 = 7 %$

Solution

VerifiedAnswered 1 year ago

Answered 1 year ago

Step 1

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

$A = Pe^{rt}$

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