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Complete the Table for a Savings Account in Which Interest

Question 19

Multiple Choice

Complete the table for a savings account in which interest is compounded continuously.  Initial investment  Annual % rate  Time to double  Amount after 10 years $500912%.........\begin{array} { | c | c | c | c | } \hline \text { Initial investment } & \text { Annual } \% \text { rate } & \text { Time to double } & \text { Amount after 10 years } \\\hline { \$ 500 } & 9 \frac { 1 } { 2 } \% & ....& .....\\\\\hline\end{array}
(Round the answer up to two decimal places. )


A) Time to double: 7.30yr7.30 y r Amount after 10 years: $1292.85\$ 1292.85
B) Time to double: 7.30yr7.30 y r Amount after 10 years: $1542.85\$ 1542.85
C) Time to double: 2.30yr2.30 y r Amount after 10 years: $1292.85\$ 1292.85
D) Time to double: 7.30yr7.30 y r Amount after 10 years: $1792.85\$ 1792.85
E) Time to double: 12.30yr12.30 \mathrm { yr } Amount after 10 years: $1292.85\$ 1292.85

Correct Answer:

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