Shrinivas deposited $1300 in an account which pays 8% annual interest, compounded continuously. How long will it take to reach $3500? Select one:
O a. 12.4 years
O b. 9.2 years
O c. 176 years
O d. 1.2 years

a. 12.4 years

Step-by-step explanation:

Function to represent exponential growth continuously:

 ...(i)

, where = initial amount, r= rate of interest ( in decimal) , A = Amount after t years.

As per given , we have

To find : t

Put all values in (i) ,

Taking natural log on both sides

Hence, it would take 12.4 years.

so, the correct option is a. 12.4 years .

answer: 43/157

this is the answer and if you try to prove me wrong your a meanie

26

step-by-step explanation: