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Solve the Problem. -How Long Will It Take for $8400 to Grow to to Grow

Question 77

Multiple Choice

Solve the problem.
-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 yr
B) 0.06 yr
C) 58.81 yr
D) 5.88 yr

Correct Answer:

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