California Baptist University Mathematical Model Discussion

Posted on | by CWP

Question Description

I’m stuck on a Mathematics question and need an explanation.

Question: A mathematical model for the Future Value of a savings account earning interest that is compounded continuously is given by the equation, where FV is the amount after t years, P is the principal amount invested at t = 0, and the principal is assumed to grow continuously at a rate, r. How many years will it take the principal to triple if the annual rate is 12%?

Tags:
Mathematical model

annual rate

Future Value

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