Compute the compound interest.Assume the cost of a car is $23,000. With continuous compounding in effect,find the number of years it would take to double the cost of the car at an annual inflation rate of 6.4%. Round the answer to the nearest hundredth.
A. 167.76 yr
B. 156.93 yr
C. 10.83 yr
D. 1.57 yr
Answer: C
Mathematics
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