Solve the problem.If Emery has $2300 to invest at 11% per year compounded monthly, how long will it be before he has $3000? If the compounding is continuous, how long will it be? (Round your answers to three decimal places.)

A. 54.998 yr, 2.597 yr
B. 0.034 yr, 0.242 yr
C. 2.427 yr, 2.415 yr
D. 0.212 yr, 0.201 yr


Answer: C

Mathematics

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