Answer:
8.5
Explanation:
For continuous compounding, the account value formula is ...
A = Pe^(rt)
where P is the invested amount, r is the annual interest rate, and t is the number of years. We want to find t when ...
3550 = 2400e^(.046t)
ln(355/240) = 0.046t
t = ln(355/240)/0.046 ≈ 8.5
It will take 8.5 years for the value to reach $3550.