Multiple Choice
An investment compounded continuously will be worth , where A is the investment in dollars, r is the annual interest rate, and t is the time in years. APY can be defined as
, the relative increase of worth in one year. Find the APY for an interest rate of 5%. Express the APY as a percent rounded to 2 decimal places.
A)
B)
C)
D)
Correct Answer:

Verified
Correct Answer:
Verified
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