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An Account Now Contains $9,100 and Has Been Accumulating Interest

Question 59

Multiple Choice

An account now contains $9,100 and has been accumulating interest at a 14% annual rate, compounded continuously, for 12 years.Find the initial deposit.


A) $1,703.55
B) $8,924.39
C) $8,920.98
D) $1,696.00
E) $9,029.10

Correct Answer:

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