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Complete the Table for a Savings Account in Which Interest

Question 29

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 $7,000$13143.27\begin{array} { | c | c | c | c | } \hline \text { Initial investment } & \text { Annual rate } & \text { Time to double } & \text { Amount after 10 years } \\\hline \$7,000& \ldots& \ldots & \$ 13143.27 \\\hline\end{array} (Round the answer up to two decimal places. )


A) Annual rate: 6.3%6.3 \% Time to double: 14 yr
B) Annual rate: 6.3%6.3 \% Time to double: 11 yr
C) Annual rate: 10.3%10.3 \% Time to double: 11 yr
D) Annual rate: 8.3%8.3 \% Time to double: 11 yr
E) Annual rate: 6.3%6.3 \% Time to double: 15 yr

Correct Answer:

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