How long will it take money to triple if it is invested at 6% compounded continuously?

Chasity Kane

Chasity Kane

Answered question

2022-09-03

How long will it take money to triple if it is invested at 6% compounded continuously?

Answer & Explanation

Johnny Parrish

Johnny Parrish

Beginner2022-09-04Added 12 answers

Rate of interest =6%=0.06
Let is takes t hours to triple the principle amount.
Compounded continously:
A = P e r t 3 P = P e 0.06 t 3 = e 0.06 t ln ( 3 ) = 0.06 t t = ln 3 0.06 = 18.3102048
It will take 18.31 years

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