If You Invest $20,000 at 7% Interest Compounded Continuously, What

question 7

Multiple Choice

If you invest $20,000 at 7% interest compounded continuously, what is the average amount in your account over 1 year
Please round your answer to the nearest cent.

• A)$20,700.00
• B) $5,350.00
• C) $10,700.00
• D) $21,400.00
• E) $20,716.62

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Definitions:

Instant Gratification

The desire to experience pleasure or fulfillment without delay or deferment.

Gritty People

Individuals who show courage and resolve; marked by a perseverance and passion for achieving long-term goals.

Employee Motivation

The level of enthusiasm, commitment, and energy that an employee brings to their job, influenced by factors like recognition, rewards, and work environment.

Training And Education

Refers to the structured process of acquiring knowledge, skills, and competencies through teaching and practical experiences.