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3 years ago

10

An investment in a savings account grows to three times the initial value after t years. If the rate of interest is 5%, compound

ed continuously, t = years.

1 answer:

RideAnS [48]3 years ago

4 0

3p=pe^0.05t
3=e^0.05t
T=(log(3)÷log(e))/0.05
T==21.97 years

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