Multiple Choice
Money is transferred continuously into an account at the constant rate of $1,000 per year.Assume the account earns interest at the annual rate of 8% compounded continuously.Compute the future value of the income stream over a 5 year period.
A) $12,295.62
B) $6,147.81
C) $491.82
D) $24,591.23
Correct Answer:
Verified
Correct Answer:
Verified
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