Continuous Compounding Interest Question Preview (ID: 61722)
Continuous Compounding Interest.
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A person invests $443.00 in a savings account that offers continuous compounding. The account has an annual interest rate of 6.25%. How much money will that person have after 3 years?
a) $534.36
b) $507.64
c) $480.92
d) $454.21
A person invests $315.00 in a savings account that offers continuous compounding. The account has an annual interest rate of 6.25%. How much money will that person have after 15 years?
a) $804.38
b) $764.16
c) $723.94
d) $844.60
A person invests $549.00 in a savings account that offers continuous compounding. The account has an annual interest rate of 5%. How much money will that person have after 7 years?
a) $779.07
b) $740.11
c) $701.16
d) $818.02
A person invests $6,524.00 in a savings account that offers continuous compounding. The account has an annual interest rate of 5%. How much money will that person have after 6 years?
a) $8,806.48
b) $8,366.15
c) $7,925.83
d) $9,246.80
A person invests $7,784.00 in a savings account that offers continuous compounding. The account has an annual interest rate of 6.25%. How much money will that person have after 13 years?
a) $17,541.51
b) $18,418.59
c) $19,295.67
d) $19,646.50
A person invests $2,018.00 in a savings account that offers continuous compounding. The account has an annual interest rate of 7.5%. How much money will that person have after 12 years?
a) $4,963.48
b) $4,715.31
c) $4,467.13
d) $4,218.96
A person invests $4,355.00 in a savings account that offers continuous compounding. The account has an annual interest rate of 10%. How much money will that person have after 5 years?
a) $7,180.18
b) $7,539.19
c) $7,898.20
d) $6,821.17
A person invests $1,522.00 in a savings account that offers continuous compounding. The account has an annual interest rate of 8.75%. How much money will that person have after 11 years?
a) $3,984.95
b) $3,785.70
c) $3,586.46
d) $4,184.20
A person invests $254.00 in a savings account that offers continuous compounding. The account has an annual interest rate of 2.5%. How much money will that person have after 3 years?
a) $273.78
b) $287.47
c) $301.16
d) $260.09
A person invests $6,819.00 in a savings account that offers continuous compounding. The account has an annual interest rate of 8.75%. How much money will that person have after 13 years?
a) $21,268.20
b) $22,331.61
c) $23,395.02
d) $23,820.38
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