How Long (In Years) Would $550 Have to Be Invested

question 109

Multiple Choice

How long (in years) would $550 have to be invested at an annual rate of 12%, compounded continuously, to amount to $1,099? Round your answer to two decimal places. ​

• A)6.92 years
• B)6.35 years
• C)7.50 years
• D)3.46 years
• E)5.77 years

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Definitions:

Cervical Cap

A small, cup-shaped contraceptive device made of silicone or latex that fits over the cervix to prevent pregnancy by blocking sperm from entering the uterus.

Douche

A method of washing or cleaning out a body cavity, vaginal canal, or another bodily part with a stream of fluid.

Spermicide

A contraceptive substance that destroys sperm, inserted vaginally prior to intercourse to prevent pregnancy.

Birth Control

Techniques or instruments implemented to avoid conception for the purpose of regulating family size.