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lyudmila [28]
2 years ago
15

3. Suppose we have an investment of $10,000 that is earning 2.1% interest compounded continuously. How long would it take to tri

ple the initial investment
Business
1 answer:
xz_007 [3.2K]2 years ago
6 0

It will take an approximate of 52 years to triple the initial investment.

The formula for Future value is <em>A = Pe^(rt)</em>

<u></u>

<u>Given Information</u>

Triple amount

Rate = 2.1%

3 = e^(.0.021t)\\ln(3) = 0.021t\\t = ln(3)/0.021\\t = 1.09861228867 / 0.021\\t = 52.314870889\\t = 52.31

Therefore, it will take an approximate of 52 years to triple the initial investment.

See similar solution here

<em>brainly.com/question/19649471</em>

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