Multiple Choice
You are saving for your retirement by investing $900 per month in an annuity with a guaranteed interest rate of 6% per year. With a continuous stream of investment and continuous compounding, how much will you have accumulated in the annuity by the time you retire in 50 years?
A) $540,000.00
B) $3,795,396.65
C) $3,435,396.65
D) $188,961.67
E) $17,176.98
Correct Answer:
Verified
Correct Answer:
Verified
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