Compute the compound interest.Assume the cost of a car is $15,000. With continuous compounding in effect,find the number of years it would take to double the cost of the car at an annual inflation rate of 9.5%. Round the answer to the nearest hundredth.

A. 108.52 yr
B. 1.01 yr
C. 7.30 yr
D. 101.22 yr


Answer: C

Mathematics

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