How long will it take an investment of $300 to triple, if the interest rate is 3.5% per year, compounded continuously?

31 years to triple the investment

Step-by-step explanation:

Initial investment = 300

Triple amount that is final amount = 300*3= 900

rate of interest = 3.5 % = 0.035

we need to find out number of years (t)

for compounded continuously we use formula

A is the final amount

P is the initial amount

r is the rate of interest

t is the number of years

Divide both sides by 300

take 'ln' on both sides

ln(3) = 0.035t ln(e)

ln(e)= 1

t= 31.3889

Round to nearest whole number

t= 31 years

a 270° rotation about point p says on e d g e n u it y (had to space it out because it says it's a misspelling so i couldn't submit it