# Help with computing amount of principal after number of years

Jan 16th, 2016
FratBro23
Category:
Mathematics
Price: \$5 USD

Question description

A mathematical model for the Future Value of a savings account earning interest that is compounded continuously is given by the equation FV = Pert, where FV is the amount after t years, P is the principal amount invested at t = 0, and the principal is assumed to grow continuously at a rate, r.

How many years will it take the principal to triple if the annual rate is 12%?  Please explain how you arrived at your answer. Thanks!

(Top Tutor) Daniel C.
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School: Rice University

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FratBro23
Jan 16th, 2016
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