Find the Interest Rate Needed for an Investment of $5,000

question 265

Multiple Choice

Find the interest rate needed for an investment of $5,000 to grow to an amount of $7,000 in 4 year(s) if interest is compounded continuously.

• A) 8.55% per year
• B) 8.41% per year
• C) 8.48% per year
• D) 8.62% per year
• E) 8.69% per year

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Definitions:

Abstract Expressionism

The first major American avant-garde movement, Abstract Expressionism emerged in New York City in the 1940s. The artists produced abstract paintings that expressed their state of mind and that they hoped would strike emotional chords in viewers. The movement developed along two lines: gestural abstraction and chromatic abstraction.

European Artists

Refers to artists originating from Europe, known for their contributions across various art movements and historical periods.

Color

A characteristic of light perceived by the human eye, determined by the light's wavelength or composition, integral to visual experience and communication.

Arshile Gorky

A seminal Armenian-American painter, associated with the early movement of abstract expressionism, known for his influential and emotionally charged works.