$\$ 3000$ is invested in an account at interest rate $r=0.045$, compounded continuously. (Round your answers to two decimal places.) (a) Find the time required for the amount to double. (b) Find the time required for the amount to triple.

Step 1 ：To find the time required for the amount to double, use the formula: \( t = \frac{\ln(2)}{0.045} \)

Step 2 ：Substituting the values, we get: \( t \approx 15.42 \) years

Step 3 ：To find the time required for the amount to triple, use the formula: \( t = \frac{\ln(3)}{0.045} \)

Step 4 ：Substituting the values, we get: \( t \approx 23.07 \) years