You are given that the natural log of 3 is approximately 1.10 (i.e., ln 3 = 1.1). Suppose an investment grows at the instantaneous (continuous) rate of .10. In how many years will this investment triple in value?
You are given that the natural log of 3 is approximately 1.10 (i.e., ln 3 = 1.1). Suppose an investment grows at the instantaneous (continuous) rate of .10. In how many years will this investment triple in value?
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
Related questions
Question
You are given that the natural log of 3 is approximately 1.10 (i.e., ln 3 = 1.1). Suppose an investment grows at the instantaneous (continuous) rate of .10. In how many years will this investment triple in value?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Recommended textbooks for you
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning