B) Alex invests $2000 in an account that has a 6% annual rate of growth. To the nearest year, when
will the investment be worth $3600?

part 1) 10 years

part 2) 10 years

Step-by-step explanation:

The correct question is:

Part 1) Alex invests $2000 in an account that has a 6% annual rate of growth compounded annually. To  the nearest year, when will the investment be worth $3600?

Part 2) Alex invests $2000 in an account that has a 6% annual rate of growth compounded continuously. To  the nearest year, when will the investment be worth $3600?

Part 1) we know that    

The compound interest formula is equal to  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

substitute in the formula above

Apply log both sides

Applying property of exponents

Round to the nearest year

Part 2) we know that

The formula to calculate continuously compounded interest is equal to

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest in decimal  

t is Number of Time Periods  

e is the mathematical constant number

we have  

substitute in the formula above

Apply ln both sides

Round to the nearest year

whole number data type

step-by-step explanation:

as whole number type represents whole number

like 1, 2 ,3, 4

in other words the whole numbers are those numbers which cannot be written infraction.

since we can take days as a whole number i.e 1 day 2 day and we cannot write 1.2 day hence we will use whole number data type

the correct answer is c

good luck love