## Calculus with Applications (10th Edition)

Published by Pearson

# Chapter 2 - Nonlinear Functions - Chapter Review - Review Exercises - Page 114: 102

It takes 14 years for $\$1$to triple at an annual inflation rate of$8\%$compounded continuously #### Work Step by Step In the formula for continuous compounding with$P=1$,$A=3$,$r=0.08A=Pe^{rt}3=1e^{0.08t}e^{0.08t}=3\ln3=\ln e^{0.08t}0.08t=\ln3t \approx 14$It takes 14 years for$\$1$ to triple at an annual inflation rate of $8\%$ compounded continuously

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