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V
-An Initial Deposit of $8,000 Is Made into an Account

Question 56

Multiple Choice

v
-An initial deposit of $8,000 is made into an account earning 6.5% compounded continuously. Thereafter, money is deposited into the account at a constant rate of $2600 per year. Find the amount in this account at any time t. How much is in this account after 5 years?


A) A = 60,000 e0.065te ^ { 0.065 t } - 52,000= $31,041.84
B) A = 52,000 e0.065te ^ { 0.065 t } - 44,000= $27,969.59
C) A = 48,000 e0.065te ^ { 0.065 t } - 40,000= $26,433.47
D) A = 44,000 e0.065te ^ { 0.065 t } - 36,000= $24,897.34

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