A carpenter cut a board 3 3/4 feet long to make a shelf. Before he cut the board, it was 10 1/2 feet long.
2 answers:
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The formula for compounded continuously is :
Here the Amount triples , so let us say the new amount A=3P
Cancelling P from both sides we get,
Now here we are given rate is 2.75% or 0.0275,
solving for t we get
t=39.95 years