If Danica has $1200 to invest at 8% per year compounded monthly, how long will it be before he has $2400? If the compounding is continuous,how long will it be? (Round your answers to three decimal places.)

Respuesta :

ANSWER

EXPLANATION

a) To find the time it will take before he has $2400, we have to apply the formula for monthly compounded amount:

[tex]undefined[/tex]