Mathematics, 16.04.2020 05:59 rafamoreura

Assume the cost of a car is $20,000. With continuous compounding in effect, the cost of the car will increase according to the equation C=20,000e rt, where r is the annual inflation rate and t is the number of years. Find the number of years it would take to double the cost of the car at an annual inflation rate of 5.9%. Round the answer to the nearest hundredth.

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Assume the cost of a car is $20,000. With continuous compounding in effect, the cost of the car will...

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