The Initial Investment in a Savings Account in Which Interest

question 57

Multiple Choice

The initial investment in a savings account in which interest is compounded continuously is $775.If the time required to double the amount is years,what is the annual rate? Round your answer to two decimal places. ​

• A)9.24 %
• B)9.90 %
• C)10.82 %
• D)8.04 %
• E)10.64 %

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Definitions:

Illness

A state of poor health due to disease, infection, or other malfunctions in the body or mind.

Alateen

A peer support group specifically for teenagers affected by someone else’s alcoholism, offering a safe environment to share experiences and learn coping strategies.

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