Answer
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
$P=1$, $A=3$, $r=0.08$
$A=Pe^{rt}$
$3=1e^{0.08t}$
$e^{0.08t}=3$
$\ln3=\ln e^{0.08t}$
$0.08t=\ln3$
$t \approx 14$
It takes 14 years for $\$1$ to triple at an annual inflation rate of $8\%$ compounded continuously
