Solved

An Account Now Contains $10,118 and Has Been Accumulating Interest

Question 43

Multiple Choice

An account now contains $10,118 and has been accumulating interest at 8% annual interest, compounded continuously, for 6 years. Find the initial deposit. Round your answer to the nearest cent.


A) $16,351.44
B) $9,340.09
C) $6,260.85
D) $6,376.06

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions