Solved

Complete the Table for a Savings Account in Which Interest

Question 15

Multiple Choice

Complete the table for a savings account in which interest is compounded continuously.  Initial investment  Annual rate  Time to double  Amount after 10  years $9,00013yr\begin{array} { | c | c | c | c | } \hline \text { Initial investment } & \text { Annual rate } & \text { Time to double } & \begin{array} { c } \text { Amount after 10 } \\\text { years }\end{array} \\\hline \$ 9,000 & \ldots & 13 \mathrm { yr } & \cdots \\\hline\end{array}
(Round the answer up to two decimal places. )


A) Annual rate: 5.33%5.33 \% Amount after 10 years: $14,836.33\$ 14,836.33
B) Annual rate: 5.33%5.33 \% Amount after 10 years: $15,836.33\$ 15,836.33
C) Annual rate: 5.33%5.33 \% Amount after 10 years: $15336.33\$ 15336.33
D) Annual rate: 9.33%9.33 \% Amount after 10 years: $15336.33\$ 15336.33
E) Annual rate: 7.33%7.33 \% Amount after 10 years: $15336.33\$ 15336.33

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents