To Help Their Son Buy a Car on His 16th

question 116

Multiple Choice

To help their son buy a car on his 16th birthday, a boy's parents invest $800 on his 11th birthday. If the investment pays an annual rate of 11% compounded continuously, how much is available on his 16th birthday? Round your answer to the nearest cent. ​

• A)$1,154.33
• B)$1,386.60
• C)$1,265.15
• D)$1,590.99
• E)$2,000.75

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Definitions:

Implicit Attitudes

Unconscious beliefs or feelings towards objects, people, or situations that can influence behavior and perceptions.

Accessible

Easily reached or obtained; easy to understand or appreciate.

Automatically

Occurring involuntarily or without conscious thought, as in actions or processes in the human body or computers.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms, policies, or societal expectations.