Choose the One Alternative That Best Completes the Statement or Answers

Multiple Choice

Choose the one alternative that best completes the statement or answers the question.
-Assume the cost of a car is $\$ 27,000$ . With continuous compounding in effect, find the number of years it would take to double the cost of the car at an annual inflation rate of $9.1 \%$ . Round the answer to the nearest hundredth.

A) $1.12 \mathrm { yr }$
B) $7.62 \mathrm { yr }$
C) $119.74 \mathrm { yr }$
D) $112.13 \mathrm { yr }$