Solve the problem.If Emery has $1100 to invest at 5% per year compounded monthly, how long will it be before he has $2200? If the compounding is continuous, how long will it be? (Round your answers to three decimal places.)
A. 0.166 yrs, 1.386 yrs
B. 13.892 yrs, 13.863 yrs
C. 1.184 yrs, 1.155 yrs
D. 129.261 yrs, 14.263 yrs
Answer: B
Mathematics
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