Assume the cost of a car is $25,000. With continuous compounding, in effect, the cost of the care will increase according to the equation C=25,000e^et, where r is the annual inflation rate and t is the number of years. Find the number of years it would take to double the cost of the rate at an annual inflation of 3.2%. Round the answer to the nearest hundredth.
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Home » Mathematics » Assume the cost of a car is $25,000. With continuous compounding, in effect, the cost of the care will increase according to the equation C=25,000e^et, where r is the annual inflation rate and t is the number of years.