Question

If $2543 is invested into a savings account and compounded continuously, what interest rate is required for the investment to triple in 60 years?

Round your answer to one decimal place.

Answer 1

Hello there.

Answer 2

Any ideas?

Answer 3

nvm

Answer 4

Umm...I thought that just meant that we should use A = Pe^rt

Answer 5

I'm wrong?

Answer 6

lol Alright...

Answer 7

So...here's what I tried doing: 7629 = 2543^r60

Answer 8

Then.... 7629/2543 = e^r60 (sorry, didn't mean to leave out the e)

Answer 9

Then 3 = e^r60...then ln(3) = ln(e)^r60, then ln(3) = r60

Answer 10

And presumably ln(3)/60....but apparently, that's wrong

Answer 11

Any idea what I did wrong?

Answer 12

i have no idea what i am doing bump this

Answer 13

Lol Alright then...thanks for your interest, then ;)