Tea and Crumpet’s Inc. needs $11,302.77 to purchase a new commercial oven. If the company can afford to deposit $6,400.00 today into an account that accrues 9.1% interest compounded continuously. How long will it take to have the amount needed to purchase the over round to the nearest quarter of the year?

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Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.