Solve the problem.If Emery has $1300 to invest at 5% per year compounded monthly, how long will it be before he has $2600? If the compounding is continuous, how long will it be? (Round your answers to three decimal places.)
A. 129.261 yr, 14.263 yr
B. 1.184 yr, 1.155 yr
C. 13.892 yr, 13.863 yr
D. 0.166 yr, 1.386 yr
Answer: C
Mathematics
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