How many years will it take an investment to triple in value if the interest rate is 3% compounded continuously?

Question

It will take ?  years. (Your answer should be correct to at least three digits after the decimal.)

Answer 1

A = Pe^rt, where P is the original amount, A is the amount in t years and r is the interest rate.

3P = Pe^0.03t

3 = e^0.03t

^{ln3 = 0.03t}

^{t = ln3 / 0.03}

Answer 2