<span> ϕ = (1+√5)/2 ≈ 1.618
10.4 * ϕ ≈ 16.8
10.4 / ϕ ≈ 6.4
Answer: b </span>
Answer:
It will take an interest rate of 8.1% to get 150% of the initial investment in just 5 years.
Step-by-step explanation:
Use the formula for continuous compounding

where r stands for the (annual) interest rate, t for time in years, P for the initial principal (investment) and X is the amount after t years.
(this formula can be beautifully derived from just basic considerations, btw)
We are given t=5, and percent increase on the initial P, so we can solve for r

It will take an interest rate of 8.1% to get 150% of the initial investment in just 5 years.
First time = 7:12
second time = 7:40
40 - 12 = 28
28 minutes have past