Solve the problem.Suppose $6000 is invested at 5.25% 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 (i) What will be the amount in the account in 7 years if no money is withdrawn?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. (i) $8664.72; (ii) 13.2 years
B. $6323.42; (ii) 20.9 years
C. $2789.80; (ii) 7.7 years
D. $6000.00; (ii) 17.5 years
Answer: A
Mathematics
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