Paisley invested $3,000 in an account paying an interest rate of 3% compounded
continuously. Maya invested $3,000 in an account paying an interest rate of 4%
compounded daily. To the nearest hundredth of a year, how much longer would it
take for Paisley's money to triple than for Maya's money to triple?

9.15 years

Step-by-step explanation:

step 1

Paisley

we know that

The formula to calculate continuously compounded interest is equal to

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest in decimal  

t is Number of Time Periods  

e is the mathematical constant number

we have  

substitute in the formula above

solve for t

apply ln both sides

solve for t

step 2

Maya

we know that    

The compound interest formula is equal to  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

substitute in the formula above

solve for t

Apply log both sides

step 3

we know that

To find out how much longer would it  take for Paisley's money to triple than for Maya's money to triple find the difference in years

the answer is b. 60. each interior angle in 120, so the exterior angle must be 60 in order to add up to 180

step-by-step explanation: