Charlie Invested $2400 at an Interest Rate of 5% for 5

question 35

Multiple Choice

Charlie invested $2400 at an interest rate of 5% for 5 years, where it was compounded continuously. If A = Peni, calculate the accumulated amount.

• A)$12,326.64
• B)$3,081.66
• C)$6,163.32
• D)$24,653.29

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Definitions:

ACP

Accelerated cost recovery system, a method used for calculating depreciation expenses for tax purposes.

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a specified period, indicating operational efficiency.

Short-Term Financing

The process of obtaining funds to cover immediate needs, typically for a period of less than one year.

Cash Inflow

The money entering a business or project from various sources, such as sales, investments, financing, and operations.