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Complete the Table for a Savings Account in Which Interest

Question 45

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 $750....934yr....\begin{array} { | c | c | c | c | } \hline \text { Initial investment } & \text { Annual \% rate } & \text { Time to double } & \text { Amount after 10 years } \\\hline { \$ 750 } & ....& 9 \frac { 3 } { 4 } y r &.... \\\hline\end{array}
(Round the answer up to two decimal places. )


A) Annual rate: 7.11%7.11 \% Amount after 10 years: $1527.02\$ 1527.02
B) Annual rate: 11.11%11.11 \% Amount after 10 years: $1527.02\$ 1527.02
C) Annual rate: 7.11%7.11 \% Amount after 10 years: $1027.02\$ 1027.02
D) Annual rate: 7.11%7.11 \% Amount after 10 years:  $2027.02 \text { \$2027.02 }
E) Annual rate: 9.11%9.11 \% Amount after 10 years: $1527.02\$ 1527.02

Correct Answer:

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