Answer The time taken for an investment to triple in value at the rate of 5.75 % compounded continuously is 19.106 years. Explanation Given information: A certain amount is invested at the rate of 5.75 % compounded continuously. Calculation: Assume that initial investment is $ P and the interest rate is 5.75 % compounded continuously. The exponential function for the amount is given by: y = P e r t 100 Substitute 3 P for y , 5.75 for r in the exponential formula. y = P e r t 100 3 P = P e 5.75 t 100 3 = e 0.0575 t Follow the steps to solve the equation by calculator: First press “ON” button on graphical calculator and press Y = key. Enter right hand side of the equation e 0.0575 t after the symbol Y 1 . Enter the keystrokes 2 nd LN 0.0575 X . Now, press the key ENTER . Enter right left side of the equation 3 after the symbol Y 2 . Enter the keystrokes 3 . Press WINDOW key and adjust the window at [ − 10 , 30 ] by [ − 10 , 20 ] . Now, press keystrokes given below to find the value of t as: 2 nd → TRACE → 5 → ENTER → ENTER → ENTER The value of X is 19.106 years. Therefore, the time taken for an investment to triple in value at the rate of 5.75 % compounded continuously is 19.106 years.

Calculus 2012 Student Edition (by Finney/Demana/Waits/Kennedy)

4th Edition

ISBN: 9780133178579

Author: Ross L. Finney

Publisher: PEARSON

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Question

Chapter 1.3, Problem 30E

To determine

To find: The time taken for an investment to triple in value at the rate of 5.75% compounded continuously.

Expert Solution & Answer

Answer to Problem 30E

The time taken for an investment to triple in value at the rate of 5.75% compounded continuously is 19.106 years.

Explanation of Solution

Given information: A certain amount is invested at the rate of 5.75% compounded continuously.

Calculation:

Assume that initial investment is $P and the interest rate is 5.75% compounded continuously.

The exponential function for the amount is given by:

y=Pert100

Substitute 3P for y , 5.75 for r in the exponential formula.

y=Pert1003P=Pe5.75t1003=e0.0575t

Follow the steps to solve the equation by calculator:

First press “ON” button on graphical calculator and press Y= key.
Enter right hand side of the equation e0.0575t after the symbol Y1 . Enter the keystrokes 2ndLN0.0575X . Now, press the key ENTER .
Enter right left side of the equation 3 after the symbol Y2 . Enter the keystrokes 3 .
Press WINDOW key and adjust the window at [−10, 30] by [−10, 20] .
Now, press keystrokes given below to find the value of t as:

2nd→TRACE→5→ENTER→ENTER→ENTER

Calculus 2012 Student Edition (by Finney/Demana/Waits/Kennedy), Chapter 1.3, Problem 30E

The value of X is 19.106 years.

Therefore, the time taken for an investment to triple in value at the rate of 5.75% compounded continuously is 19.106 years.

Chapter 1.3, Problem 29E

Chapter 1.3, Problem 31E

Chapter 1 Solutions

Calculus 2012 Student Edition (by Finney/Demana/Waits/Kennedy)

Ch. 1.1 - Prob. 1QR Ch. 1.1 - Prob. 2QR Ch. 1.1 - Prob. 3QR Ch. 1.1 - Prob. 4QR Ch. 1.1 - Prob. 5QR Ch. 1.1 - Prob. 6QR Ch. 1.1 - Prob. 7QR Ch. 1.1 - Prob. 8QR Ch. 1.1 - Prob. 9QR Ch. 1.1 - Prob. 10QR

Ch. 1.1 - Prob. 1E Ch. 1.1 - Prob. 2E Ch. 1.1 - Prob. 3E Ch. 1.1 - Prob. 4E Ch. 1.1 - Prob. 5E Ch. 1.1 - Prob. 6E Ch. 1.1 - Prob. 7E Ch. 1.1 - Prob. 8E Ch. 1.1 - Prob. 9E Ch. 1.1 - Prob. 10E Ch. 1.1 - Prob. 11E Ch. 1.1 - Prob. 12E Ch. 1.1 - Prob. 13E Ch. 1.1 - Prob. 14E Ch. 1.1 - Prob. 15E Ch. 1.1 - Prob. 16E Ch. 1.1 - Prob. 17E Ch. 1.1 - Prob. 18E Ch. 1.1 - Prob. 19E Ch. 1.1 - Prob. 20E Ch. 1.1 - Prob. 21E Ch. 1.1 - Prob. 22E Ch. 1.1 - Prob. 23E Ch. 1.1 - Prob. 24E Ch. 1.1 - Prob. 25E Ch. 1.1 - Prob. 26E Ch. 1.1 - Prob. 27E Ch. 1.1 - Prob. 28E Ch. 1.1 - Prob. 29E Ch. 1.1 - Prob. 30E Ch. 1.1 - Prob. 31E Ch. 1.1 - Prob. 32E Ch. 1.1 - Prob. 33E Ch. 1.1 - Prob. 34E Ch. 1.1 - Prob. 35E Ch. 1.1 - Prob. 36E Ch. 1.1 - Prob. 37E Ch. 1.1 - Prob. 38E Ch. 1.1 - Prob. 39E Ch. 1.1 - Prob. 40E Ch. 1.1 - Prob. 41E Ch. 1.1 - Prob. 42E Ch. 1.1 - Prob. 43E Ch. 1.1 - Prob. 44E Ch. 1.1 - Prob. 45E Ch. 1.1 - Prob. 46E Ch. 1.1 - Prob. 47E Ch. 1.1 - Prob. 48E Ch. 1.1 - Prob. 49E Ch. 1.1 - Prob. 50E Ch. 1.1 - 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Prob. 32E Ch. 1.2 - Prob. 33E Ch. 1.2 - Prob. 34E Ch. 1.2 - Prob. 35E Ch. 1.2 - Prob. 36E Ch. 1.2 - Prob. 37E Ch. 1.2 - Prob. 38E Ch. 1.2 - Prob. 39E Ch. 1.2 - Prob. 40E Ch. 1.2 - Prob. 41E Ch. 1.2 - Prob. 42E Ch. 1.2 - Prob. 43E Ch. 1.2 - Prob. 44E Ch. 1.2 - Prob. 45E Ch. 1.2 - Prob. 46E Ch. 1.2 - Prob. 47E Ch. 1.2 - Prob. 48E Ch. 1.2 - Prob. 49E Ch. 1.2 - Prob. 50E Ch. 1.2 - Prob. 51E Ch. 1.2 - Prob. 52E Ch. 1.2 - Prob. 53E Ch. 1.2 - Prob. 54E Ch. 1.2 - Prob. 55E Ch. 1.2 - Prob. 56E Ch. 1.2 - Prob. 57E Ch. 1.2 - Prob. 58E Ch. 1.2 - Prob. 59E Ch. 1.2 - Prob. 60E Ch. 1.2 - Prob. 61E Ch. 1.2 - Prob. 62E Ch. 1.2 - Prob. 63E Ch. 1.2 - Prob. 64E Ch. 1.2 - Prob. 65E Ch. 1.2 - Prob. 66E Ch. 1.2 - Prob. 67E Ch. 1.2 - Prob. 68E Ch. 1.2 - Prob. 69E Ch. 1.2 - Prob. 70E Ch. 1.2 - Prob. 71E Ch. 1.2 - Prob. 72E Ch. 1.3 - Prob. 1QR Ch. 1.3 - Prob. 2QR Ch. 1.3 - Prob. 3QR Ch. 1.3 - Prob. 4QR Ch. 1.3 - Prob. 5QR Ch. 1.3 - Prob. 6QR Ch. 1.3 - Prob. 7QR Ch. 1.3 - Prob. 8QR Ch. 1.3 - Prob. 9QR Ch. 1.3 - Prob. 10QR Ch. 1.3 - Prob. 1E Ch. 1.3 - Prob. 2E Ch. 1.3 - Prob. 3E Ch. 1.3 - Prob. 4E Ch. 1.3 - Prob. 5E Ch. 1.3 - Prob. 6E Ch. 1.3 - Prob. 7E Ch. 1.3 - Prob. 8E Ch. 1.3 - Prob. 9E Ch. 1.3 - Prob. 10E Ch. 1.3 - Prob. 11E Ch. 1.3 - Prob. 12E Ch. 1.3 - Prob. 13E Ch. 1.3 - Prob. 14E Ch. 1.3 - Prob. 15E Ch. 1.3 - Prob. 16E Ch. 1.3 - Prob. 17E Ch. 1.3 - Prob. 18E Ch. 1.3 - Prob. 19E Ch. 1.3 - Prob. 20E Ch. 1.3 - Prob. 21E Ch. 1.3 - Prob. 22E Ch. 1.3 - Prob. 23E Ch. 1.3 - Prob. 24E Ch. 1.3 - Prob. 25E Ch. 1.3 - Prob. 26E Ch. 1.3 - Prob. 27E Ch. 1.3 - Prob. 28E Ch. 1.3 - Prob. 29E Ch. 1.3 - Prob. 30E Ch. 1.3 - Prob. 31E Ch. 1.3 - Prob. 32E Ch. 1.3 - Prob. 33E Ch. 1.3 - Prob. 34E Ch. 1.3 - Prob. 35E Ch. 1.3 - Prob. 36E Ch. 1.3 - Prob. 37E Ch. 1.3 - Prob. 38E Ch. 1.3 - Prob. 39E Ch. 1.3 - Prob. 40E Ch. 1.3 - Prob. 41E Ch. 1.3 - Prob. 42E Ch. 1.3 - Prob. 43E Ch. 1.3 - Prob. 44E Ch. 1.3 - Prob. 45E Ch. 1.3 - Prob. 46E Ch. 1.3 - Prob. 47E Ch. 1.3 - Prob. 48E Ch. 1.3 - Prob. 49E Ch. 1.3 - Prob. 1QQ Ch. 1.3 - Prob. 2QQ Ch. 1.3 - Prob. 3QQ Ch. 1.3 - Prob. 4QQ Ch. 1.4 - Prob. 1QR Ch. 1.4 - Prob. 2QR Ch. 1.4 - Prob. 3QR Ch. 1.4 - Prob. 4QR Ch. 1.4 - Prob. 5QR Ch. 1.4 - Prob. 6QR Ch. 1.4 - Prob. 7QR Ch. 1.4 - Prob. 8QR Ch. 1.4 - Prob. 9QR Ch. 1.4 - Prob. 10QR Ch. 1.4 - Prob. 1E Ch. 1.4 - Prob. 2E Ch. 1.4 - Prob. 3E Ch. 1.4 - Prob. 4E Ch. 1.4 - Prob. 5E Ch. 1.4 - Prob. 6E Ch. 1.4 - Prob. 7E Ch. 1.4 - Prob. 8E Ch. 1.4 - Prob. 9E Ch. 1.4 - Prob. 10E Ch. 1.4 - Prob. 11E Ch. 1.4 - Prob. 12E Ch. 1.4 - Prob. 13E Ch. 1.4 - Prob. 14E Ch. 1.4 - Prob. 15E Ch. 1.4 - Prob. 16E Ch. 1.4 - Prob. 17E Ch. 1.4 - Prob. 18E Ch. 1.4 - Prob. 19E Ch. 1.4 - Prob. 20E Ch. 1.4 - Prob. 21E Ch. 1.4 - Prob. 22E Ch. 1.4 - Prob. 23E Ch. 1.4 - Prob. 24E Ch. 1.4 - Prob. 25E Ch. 1.4 - Prob. 26E Ch. 1.4 - Prob. 27E Ch. 1.4 - Prob. 28E Ch. 1.4 - Prob. 29E Ch. 1.4 - Prob. 30E Ch. 1.4 - Prob. 31E Ch. 1.4 - Prob. 32E Ch. 1.4 - Prob. 33E Ch. 1.4 - Prob. 34E Ch. 1.4 - Prob. 35E Ch. 1.4 - Prob. 36E Ch. 1.4 - Prob. 37E Ch. 1.4 - Prob. 38E Ch. 1.4 - Prob. 39E Ch. 1.4 - Prob. 40E Ch. 1.4 - Prob. 41E Ch. 1.4 - Prob. 42E Ch. 1.4 - Prob. 43E Ch. 1.4 - Prob. 44E Ch. 1.4 - Prob. 45E Ch. 1.4 - Prob. 46E Ch. 1.4 - Prob. 47E Ch. 1.4 - Prob. 48E Ch. 1.5 - Prob. 1QR Ch. 1.5 - Prob. 2QR Ch. 1.5 - Prob. 3QR Ch. 1.5 - Prob. 4QR Ch. 1.5 - Prob. 5QR Ch. 1.5 - Prob. 6QR Ch. 1.5 - Prob. 7QR Ch. 1.5 - Prob. 8QR Ch. 1.5 - Prob. 9QR Ch. 1.5 - Prob. 10QR Ch. 1.5 - Prob. 1E Ch. 1.5 - Prob. 2E Ch. 1.5 - Prob. 3E Ch. 1.5 - Prob. 4E Ch. 1.5 - Prob. 5E Ch. 1.5 - Prob. 6E Ch. 1.5 - Prob. 7E Ch. 1.5 - Prob. 8E Ch. 1.5 - Prob. 9E Ch. 1.5 - Prob. 10E Ch. 1.5 - Prob. 11E Ch. 1.5 - Prob. 12E Ch. 1.5 - Prob. 13E Ch. 1.5 - Prob. 14E Ch. 1.5 - Prob. 15E Ch. 1.5 - Prob. 16E Ch. 1.5 - Prob. 17E Ch. 1.5 - Prob. 18E Ch. 1.5 - Prob. 19E Ch. 1.5 - Prob. 20E Ch. 1.5 - Prob. 21E Ch. 1.5 - Prob. 22E Ch. 1.5 - Prob. 23E Ch. 1.5 - Prob. 24E Ch. 1.5 - Prob. 25E Ch. 1.5 - Prob. 26E Ch. 1.5 - Prob. 27E Ch. 1.5 - Prob. 28E Ch. 1.5 - Prob. 29E Ch. 1.5 - Prob. 30E Ch. 1.5 - Prob. 31E Ch. 1.5 - 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Prob. 11E Ch. 1.6 - Prob. 12E Ch. 1.6 - Prob. 13E Ch. 1.6 - Prob. 14E Ch. 1.6 - Prob. 15E Ch. 1.6 - Prob. 16E Ch. 1.6 - Prob. 17E Ch. 1.6 - Prob. 18E Ch. 1.6 - Prob. 19E Ch. 1.6 - Prob. 20E Ch. 1.6 - Prob. 21E Ch. 1.6 - Prob. 22E Ch. 1.6 - Prob. 23E Ch. 1.6 - Prob. 24E Ch. 1.6 - Prob. 25E Ch. 1.6 - Prob. 26E Ch. 1.6 - Prob. 27E Ch. 1.6 - Prob. 28E Ch. 1.6 - Prob. 29E Ch. 1.6 - Prob. 30E Ch. 1.6 - Prob. 31E Ch. 1.6 - Prob. 32E Ch. 1.6 - Prob. 33E Ch. 1.6 - Prob. 34E Ch. 1.6 - Prob. 35E Ch. 1.6 - Prob. 36E Ch. 1.6 - Prob. 37E Ch. 1.6 - Prob. 38E Ch. 1.6 - Prob. 39E Ch. 1.6 - Prob. 40E Ch. 1.6 - Prob. 41E Ch. 1.6 - Prob. 42E Ch. 1.6 - Prob. 43E Ch. 1.6 - Prob. 44E Ch. 1.6 - Prob. 45E Ch. 1.6 - Prob. 46E Ch. 1.6 - Prob. 47E Ch. 1.6 - Prob. 48E Ch. 1.6 - Prob. 49E Ch. 1.6 - Prob. 50E Ch. 1.6 - Prob. 51E Ch. 1.6 - Prob. 52E Ch. 1.6 - Prob. 53E Ch. 1.6 - Prob. 54E Ch. 1.6 - Prob. 55E Ch. 1.6 - Prob. 56E Ch. 1.6 - Prob. 57E Ch. 1.6 - Prob. 58E Ch. 1.6 - Prob. 59E Ch. 1.6 - Prob. 60E Ch. 1.6 - Prob. 61E Ch. 1.6 - Prob. 62E Ch. 1.6 - Prob. 1QQ Ch. 1.6 - Prob. 2QQ Ch. 1.6 - Prob. 3QQ Ch. 1.6 - Prob. 4QQ Ch. 1 - Prob. 1RE Ch. 1 - Prob. 2RE Ch. 1 - Prob. 3RE Ch. 1 - Prob. 4RE Ch. 1 - Prob. 5RE Ch. 1 - Prob. 6RE Ch. 1 - Prob. 7RE Ch. 1 - Prob. 8RE Ch. 1 - Prob. 9RE Ch. 1 - Prob. 10RE Ch. 1 - Prob. 11RE Ch. 1 - Prob. 12RE Ch. 1 - Prob. 13RE Ch. 1 - Prob. 14RE Ch. 1 - Prob. 15RE Ch. 1 - Prob. 16RE Ch. 1 - Prob. 17RE Ch. 1 - Prob. 18RE Ch. 1 - Prob. 19RE Ch. 1 - Prob. 20RE Ch. 1 - Prob. 21RE Ch. 1 - Prob. 22RE Ch. 1 - Prob. 23RE Ch. 1 - Prob. 24RE Ch. 1 - Prob. 25RE Ch. 1 - Prob. 26RE Ch. 1 - Prob. 27RE Ch. 1 - Prob. 28RE Ch. 1 - Prob. 29RE Ch. 1 - Prob. 30RE Ch. 1 - Prob. 31RE Ch. 1 - Prob. 32RE Ch. 1 - Prob. 33RE Ch. 1 - Prob. 34RE Ch. 1 - Prob. 35RE Ch. 1 - Prob. 36RE Ch. 1 - Prob. 37RE Ch. 1 - Prob. 38RE Ch. 1 - Prob. 39RE Ch. 1 - Prob. 40RE Ch. 1 - Prob. 41RE Ch. 1 - Prob. 42RE Ch. 1 - Prob. 43RE Ch. 1 - Prob. 44RE Ch. 1 - Prob. 45RE Ch. 1 - Prob. 46RE Ch. 1 - Prob. 47RE Ch. 1 - Prob. 48RE Ch. 1 - Prob. 49RE Ch. 1 - Prob. 50RE Ch. 1 - Prob. 51RE Ch. 1 - Prob. 52RE Ch. 1 - Prob. 53RE Ch. 1 - Prob. 54RE Ch. 1 - Prob. 55RE Ch. 1 - Prob. 56RE Ch. 1 - Prob. 57RE Ch. 1 - Prob. 58RE Ch. 1 - Prob. 59RE Ch. 1 - Prob. 60RE Ch. 1 - Prob. 61RE Ch. 1 - Prob. 62RE Ch. 1 - Prob. 63RE Ch. 1 - Prob. 64RE Ch. 1 - Prob. 65RE Ch. 1 - Prob. 66RE Ch. 1 - Prob. 67RE Ch. 1 - Prob. 68RE Ch. 1 - Prob. 69RE Ch. 1 - Prob. 70RE

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The time taken for an investment to triple in value at the rate of 5.75 % compounded continuously.

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To find: The time taken for an investment to triple in value at the rate of 5.75% compounded continuously.

Answer to Problem 30E

Explanation of Solution

Chapter 1 Solutions

Additional Math Textbook Solutions