Answer:
B. 8.66%
Step-by-step explanation:
In this case we have to evaluate the following formula:
n = e ^ (k * t)
where n would be the growth rate, we are told that it doubles therefore it is 2.
k is the monthly rate and time, 8 months.
Solved for k, we are left with:
ln (n) = k * t
k = ln (n) / t
replacing we have:
k = ln (2) / t = 0.693 / 8
k = 0.0866
If we take this to a percentage it would be 0.0866 * 100 = 8.66%
Therefore the answer is B.
