$5500 Is Invested in an Account at Interest Rate R,compounded $r = 0.0540$

question 50

Multiple Choice

$5500 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. ) ​ $r = 0.0540$ ​

• A)13.84 yr
• B)10.84 yr
• C)12.84 yr
• D)11.84 yr
• E)14.84 yr

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Definitions:

Materials Task

A methodological approach in cognitive or developmental psychology that involves manipulating physical materials to assess cognitive processing or learning outcomes.

Years of Schooling

The total number of years that an individual has spent in formal education.

Inductive Reasoning

Reasoning that involves drawing conclusions that are suggested but are not necessarily true.

Deductive Reasoning

Drawing conclusions from only the given premises.