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.

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.

anonymous · Answer

Hello there.

anonymous · Answer

Any ideas?

anonymous · Answer

nvm

anonymous · Answer

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

anonymous · Answer

I'm wrong?

anonymous · Answer

lol Alright...

anonymous · Answer

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

anonymous · Answer

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

anonymous · Answer

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

anonymous · Answer

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

anonymous · Answer

Any idea what I did wrong?

anonymous · Answer

i have no idea what i am doing bump this

anonymous · Answer

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