The correct formula for this is as follows:

where n is the number of compounding periods per year, and r is the annual interest rate as a decimal,
Plugging the given values into the formula, we get:

This equation can be simplified to:

Taking logs of both sides gives:

which can be rearranged to get:

So it will take about 5.864 years for the amount to reach $4550.
Answer:
B
Step-by-step explanation:
Answer:
Step-by-step explanation:
Answer:
- Option C.

Explanation:
<u>1. Separate variables:</u>

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<u>2. Find the indefinite integrals</u>

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<u>3. Solve for P</u>

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<u>4. Use the initial condition, P(0) = 4, to find K:</u>
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<u>5. Substitute K = 6 into the integrated equation:</u>

That is the option C.
Well 7 goes into 15 7 times and theres one left over so there would be one left out