Math Problem Statement
Solution
Ask a new question for Free
By Image
Drop file here or Click Here to upload
Math Problem Analysis
Mathematical Concepts
Exponential Growth
Compounding Interest
Logarithms
Formulas
Continuous Compounding: A = Pe^(rt)
Annual Compounding: A = P(1 + r)^t
Continuous Compounding Solution: t = ln(3)/r
Annual Compounding Solution: t = ln(3)/ln(1 + r)
Theorems
Exponential Growth Theorem
Properties of Logarithms
Suitable Grade Level
Grades 10-12
Related Recommendation
How Long Will It Take for an Investment to Triple with Continuous Compounding at 7%?
How to Calculate Time to Triple an Investment with Logarithms and Compound Interest
How Long Does It Take for Investments to Triple or Grow to 16x?
Calculate Time to Triple Investment with Continuous Compounding at 8%
Calculating Time for an Investment to Triple with Continuous Compounding