Solve the problem.Assume the cost of a gallon of milk is $3.40. With continuous compounding, find the time it would take the cost to be 4 times as much (to the nearest tenth of a year), at an annual inflation rate of 6%.
A. 0.1 yr
B. 0.0 yr
C. 23.1 yr
D. 8.5 yr
Answer: C
Mathematics
You might also like to view...
Solve the problem. There are currently 52 million cars in a certain country, decreasing exponentially by 3.4% annually. How many years will it take for this country to have 22 million cars? Round to the nearest year.
A. 30 yr B. 100 yr C. 9 yr D. 25 yr
Mathematics
Evaluate the integral.
A. 4i - 45j + k
B. 2i - 45j + k
C. 4i - 45j + k
D. 4i + 45j + k
Mathematics
Multiply.4 ? 500
A. 2500 B. 504 C. 1500 D. 2000
Mathematics
Translate to an algebraic expression.Monica had $16 before spending y dollars for a snack. How much money remains?
A. y - $16 B. $16 - y C. $16y D. $16 + y
Mathematics