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Choose the One Alternative That Best Completes the Statement or Answers

Question 309

Multiple Choice

Choose the one alternative that best completes the statement or answers the question.
-How long will it take for $6100\$ 6100 to grow to $26,700\$ 26,700 at an interest rate of 4.6%4.6 \% if the interest is compounded continuously? Round the number of years to the nearest hundredth.


A) 3.21yr3.21 \mathrm { yr }
B) 1.01yr1.01 \mathrm { yr }
C) 32.10yr32.10 \mathrm { yr }
D) 3209.51yr3209.51 \mathrm { yr }

Correct Answer:

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