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Future Value s(t)=900e005ts ( t ) = 900 e ^ { 005 t }

Question 8

Multiple Choice

Future value. The future value that accrues when $900 is invested at 5%, compounded continuously, is s(t) =900e005ts ( t ) = 900 e ^ { 005 t } , where t is the number of years. At what rate is the money in this account growing when t=9?t = 9 ?


A) $14.11 per year
B) $49.24 per year
C) $1411.48 per year
D) $941.43 per year
E) $70.57 per year

Correct Answer:

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