Multiple Choice
To help their son buy a car on his 16th birthday,a boy's parents invest $1,900 on his 10th birthday.If the investment pays an annual rate of 9% compounded continuously,how much is available on his 16th birthday? Round your answer to the nearest cent.
A) $3,240.96
B) $3,260.41
C) $3,186.49
D) $2,926.00
E) $16,475.16
Correct Answer:
Verified
Correct Answer:
Verified
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