Solve the Problem

Multiple Choice

Solve the problem. Round to the nearest cent as needed.
-How long will it take for $8400 to grow to $14,600 at an interest rate of 9.4% if the interest is compounded continuously? Round the number of years to the nearest hundredth.

A) 0.59 year
B) 0.06 year
C) 5.88 years
D) 58.81 years