Math Problem Statement

Solution

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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