Multiple Choice
Solve the problem.
-Assume the cost of a gallon of milk is $2.50. With continuous compounding, find the time it would take the cost to be 2 times as much (to the nearest tenth of a year) , at an annual inflation rate of 6%.
A) 11.6 years
B) 0.1 years
C) 0.2 years
D) 4.2 years
Correct Answer:
Verified
Correct Answer:
Verified
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