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

109 trust me

step-by-step explanation:

answer: evaluate the objective function at each vertex to determine which - and -values, if any, maximize or minimize the function. example: find the minimum value and maximum value of the objective function f ( x , y ) = 4 x + 5 y , subject to the following constraints