mazz543 mazz543

08-05-2021
Mathematics

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Jon invested $5,000 dollars into an account with an interest rate of 15% compounded continuously. Approximately how long will it take the investment to triple? A=P(1±rn)nt Group of answer choices

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Brobertiello Brobertiello

08-05-2021

10,000 = 5,000(1+0.15)^x

2 = (1.15)^x

logbase(1.15) of 2 = x

x = ~4.96

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