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3 November, 06:50

An investment in a savings account grows to three times the initial value after t years. If the rate of interest is 5%, compounded continuously, t = years.

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  1. 3 November, 07:08
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    3p=pe^0.05t

    3=e^0.05t

    T = (log (3) : log (e)) / 0.05

    T==21.97 years
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