Consider a Certificate of Deposit That Pays 10% (Annual Percentage $A = 1000 ( 1 + 0 \cdot 1 x ) ^ { 10 / x }$

Multiple Choice

Consider a certificate of deposit that pays 10% (annual percentage rate) on an initial deposit of $1000. The balance after 10 years is $A = 1000 ( 1 + 0 \cdot 1 x ) ^ { 10 / x }$ . Estimate $\lim _ { x \rightarrow 0 ^ { + } } A$ , where $x$ is the length of the compounding period (in years) . Round your answer to the nearest hundredth.

A) 2718.28
B) 367.88
C) 1000.00
D) 10,000.00
E) 1100.00