Choose the One Alternative That Best Completes the Statement or Answers

Multiple Choice

Choose the one alternative that best completes the statement or answers the question.
-Cindy will require $12,000 in 5 years to return to college to get an MBA degree. How much money should she ask her parents for now so that, if she invests it at 11% compounded continuously, she will have enough for
School? (Round your answer to the nearest dollar.)

A) $3,994
B) $7,121
C) $6,923
D) $20,799