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Use the Formulas A=p(1+rn)ntA = p \left( 1 + \frac { r } { n } \right) ^ { n t }

Question 14

Multiple Choice

Use the formulas A=p(1+rn) ntA = p \left( 1 + \frac { r } { n } \right) ^ { n t } or A=pertA = p \mathrm { e } ^ { r t } to find the amount for the investment. $10,800 for 5 years at 5% compounded continuously.


A) $13,867.40
B) $13,867.47
C) $13,867.54
D) $13,867.26
E) $13,867.33

Correct Answer:

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