$2500 Is Invested in an Account at Interest Rate R,compounded $r = 0.06$

question 23

Multiple Choice

$2500 is invested in an account at interest rate r,compounded continuously.Find the time required for the amount to double.(Approximate the result to two decimal places. ) ​ $r = 0.06$ ​

• A)13.55 yr
• B)10.55 yr
• C)12.55 yr
• D)9.55 yr
• E)11.55 yr

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Definitions:

Exchange Rate

The financial value of one currency in the context of another for the purpose of exchange.

C$0.005

Represents a monetary value of five one-thousandths of a Canadian dollar.

C$1.0339

Specified value, possibly representing the exchange rate of 1 Canadian dollar to another currency at a certain point in time.

US$1.00

The monetary unit equal to one United States dollar, the official currency of the United States of America.