Choose the One Alternative That Best Completes the Statement or Answers

question 309

Multiple Choice

Choose the one alternative that best completes the statement or answers the question.
-How long will it take for $\$ 6100$ to grow to $\$ 26,700$ at an interest rate of $4.6 \%$ if the interest is compounded continuously? Round the number of years to the nearest hundredth.

• A) \(3.21 \mathrm { yr }\)
• B) \(1.01 \mathrm { yr }\)
• C) \(32.10 \mathrm { yr }\)
• D) \(3209.51 \mathrm { yr }\)