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The Initial Investment in a Savings Account in Which Interest

Question 9

Multiple Choice

The initial investment in a savings account in which interest is compounded continuously is $803. If the time required to double the amount is The initial investment in a savings account in which interest is compounded continuously is $803. If the time required to double the amount is years, what is the annual rate? Round your answer to two decimal places. ​ A) 7.30 % B) 7.70 % C) 13.71 % D) 6.10 % E) 8.70 % ​ years, what is the annual rate? Round your answer to two decimal places. ​


A) 7.30 %
B) 7.70 %
C) 13.71 %
D) 6.10 %
E) 8.70 %
​

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