$3000 Is Invested in an Account at Interest Rate R,compounded $r = 0.03$

question 48

Multiple Choice

$3000 is invested in an account at interest rate r,compounded continuously.Find the time required for the amount to triple.(Approximate the result to two decimal places. ) ​ $r = 0.03$ ​

• A)37.62 yr
• B)36.62 yr
• C)35.62 yr
• D)34.62 yr
• E)38.62 yr

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Definitions:

P(A ∩ B)

The probability that events A and B both occur, also known as the intersection of A and B.

Venn Diagram

A graphical representation for showing symbolically the sample space and operations involving events in which the sample space is represented by a rectangle and events are represented as circles within the sample space.

Conditional Probability (P(B))

The probability of an event (B) occurring given that another event (A) has already occurred.

Posterior Probabilities

The revised probabilities of scenarios or hypotheses being true, adjusted after taking into account new evidence or information.