The Initial Investment in a Savings Account in Which Interest

question 54

Multiple Choice

The initial investment in a savings account in which interest is compounded continuously is $850.If the time required to double the amount is years,what is the amount after 14 years? Round your answer to the nearest cent. ​

• A)$3,400.00
• B)$3,099.86
• C)$3,173.33
• D)$2,699.86
• E)$9,197.18

Comprehend the historical development and role of credit cards.

Understand the regulatory framework governing banks in the U.S., including interstate banking and the role of the FDIC.

Analyze the factors contributing to the savings and loan crisis in the 1980s.

Distinguish between different forms of money and non-money financial instruments.