Multiple Choice
You are saving for your retirement by investing $1000 per month in an annuity with a guaranteed interest rate of 6% per year. With a continuous stream of investment and continuous compounding, how much will you have accumulated in the annuity by the time you retire in 15 years Round your answer to the nearest cent.
A) $180,000.00
B) $1,459.60
C) $691,920.62
D) $281,313.93
E) $291,920.62
Correct Answer:
Verified
Correct Answer:
Verified
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