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Complete the Table for a Savings Account in Which Interest

Question 31

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 $9,000…13yr⋯\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:

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