If $7,000 Is Invested at an Annual Rate of 11

question 56

Multiple Choice

If $7,000 is invested at an annual rate of 11.5% compounded continuously, the future value S at any time t (in years) is given by . What is the amount after 12 months? Round your answer to the nearest cent. ​

• A)$27,824.31
• B)$7,848.82
• C)$17,838.71
• D)$7,853.11

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Definitions:

International Business

Commercial transactions that occur across national borders, including trade, investments, and partnerships.

Bilateral Trade Agreements

Trade agreements between two countries that aim to reduce tariffs and quotas to encourage trade and economic cooperation.

International Law

The body of law that governs the conduct of nations and international organizations and their relations with one another and with natural and juridical persons.

Comparative Law

The academic study of the differences and similarities between the laws of different countries or jurisdictions.