How long will it take for an investment to triple if it is compounded continuously at 12%

9.694 years

Step-by-step explanation:

Let the investment is $P.

So, we are asked to determine the time it will grow to triple with the compound interest rate of 12%.

Let the time is y years.

So, from the formula of compound interest we can write

⇒

⇒

Now, taking log both sides we get,

y log 1.12 = log 3 {Since, }

⇒ 0.04922y = 0.477712

⇒ y = 9.694 years (Answer)

(x, y)→(x − 8, y − 7)

step-by-step explanation:

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