Multiple Choice
To help their son buy a car on his 19th birthday, a boy's parents invest $1400 on his 10th birthday. If the investment pays an annual rate of 9% compounded continuously, how much is available on his 19th birthday?
A) $3118.94
B) $3147.07
C) $3040.65
D) $2534.00
E) $35,747.21
Correct Answer:
Verified
Correct Answer:
Verified
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