The general formula for continuous exponential growth is A=A0•ert, where A0 is the initial amount, t is the elapsed time, and r is the rate of growth or decay. For this problem, r=0.005, so the formula is A=A0•e0.005t.
Since we want to know how long it takes of the amount to be 275% of the original amount, we can state that A=2.75A0. Substituting that into our formula gives us 2.75A0=A0•e0.005t. Dividing by A0 yields 2.75=e0.005t.
At this point we need to take the natural logarithm of both sides:
ln(2.75)=ln(e0005t)
ln(2.75)=0.005t
t=ln(2.75)/0.005, which is approximately equal to 202.3
We round up to 203 years.