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How long will it take for a sum of money to triple in value if invested at an annual rate of $3 \%$ compounded continuously?
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How long will an amount of money triple at a simple interest rate of 1% per annum?
SI=3P
SI=(P*T*R)/100
3P=(P*T*1)/100
3P= P*T*0.01
3P/ P0.01= P*T*0.01/ P0.01
3/0.01=T
T=300 Years
or
P=100
SI=300
Rate=1%
SI = (P×T×R)÷100
300= (100×T×1)÷100
300= (T100)/100
300=T
T=300 Years