Multiple Choice
Solve the problem.
-If Emery has $1100 to invest at 6% per year compounded monthly, how long will it be before he has $2100? If the compounding is continuous, how long will it be? (Round your answers to three decimal places.)
A) 0.133 yr, 1.078 yr
B) 0.925 yr, 0.898 yr
C) 106.985 yr, 11.11 yr
D) 10.804 yr, 10.777 yr
Correct Answer:
Verified
Correct Answer:
Verified
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