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The amount of $5000 is placed in savings account where interest is compounded continuously at the...

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Electrical Engineering

The amount of $5000 is placed in savings account where interestis compounded continuously at the rate of 6% per year. How longwill it take for this amount to triple?

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4.0 Ratings (795 Votes)
Given Data Principal Amount P 5000 Interest Rate r 6 per year Triple amount A 35000 15000 Time period t Question Time required to triple the amount Lets first understand what is compond interest Comound interest is    See Answer
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