Question

Akeem invests $25,000 in an account that pays 4.75% annual interest compounded continuously. Using the formula A=Pe^rt, where A=the amount in the account after t years, P=principal invested, and r=the annual interest rate, how many years, to the nearest tenth will it take Akeem’s investment to triple?
SHOW WORK!
a) 10.0
b) 14.6
c) 23.1
d) 24.0

Answer 1

3 = e^(0.0475)t

Answer 2

i need help with this question

Answer 3

can you go from there

Answer 4

i think so

Answer 5

okay :)

Answer 6

is the e $25000

Answer 7

or p

Answer 8

A=3 p=1

Answer 9

what does e equal

Answer 10

you ln both sides
so lne = 1

Answer 11

do you get it?