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An Investment of $1250 Is Made in an Account That 6.3%6.3 \%

Question 143

Multiple Choice

An investment of $1250 is made in an account that compounds interest continuously. After years 10 the balance in the account is $2,040.40. To the nearest tenth of a percent, what is the annual interest rate for this account?


A) 6.3%6.3 \%
B) 10.7%10.7 \%
C) 4.9%4.9 \%
D) 0.5%0.5 \%
E) 2.1%2.1 \%

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