Solve the problem.Suppose $6000 is invested at 4.25% annual interest, compounded continually. (i) What will be the amount in the account in 7 years if no money is withdrawn? (ii) How long will it take for the initial principal to double? Round to the nearest tenth of a year.
A. $2294.58; (ii) 9.5 years
B. (i) $8078.93; (ii) 16.3 years
C. $6260.50; (ii) 25.8 years
D. $6000.00; (ii) 21.6 years
Answer: B
Mathematics
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