Solve the Problem $P$ Dollars in Principal Is Invested in an Account Earning

question 161

Multiple Choice

Solve the problem.
-Suppose that $P$ dollars in principal is invested in an account earning $5.3 \%$ interest compounded continuously. At the end of $3 \mathrm { yr }$ , the amount in the account has earned $\$ 1,378.70$ in interest. Find the original principal. Round to the nearest dollar. (Hint: Use the model $A = P e ^ { r t }$ and substitute $P + 1,378.70$ for $A$ .)

• A) \(\$ 9,379\)
• B) \(\$ 2,555\)
• C) \(\$ 1,176\)
• D) \(\$ 8,000\)

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Definitions:

Operant Learning

A type of learning where behavior is controlled by consequences, including rewards and punishments, as described by B.F. Skinner.

Cognitive Error

Faulty thinking or mistaken beliefs that can lead to incorrect conclusions or decisions.

Beck's Views

Refers to the theories and therapeutic techniques developed by psychologist Aaron T. Beck, particularly his contributions to cognitive therapy which emphasize the role of thought patterns in psychological disorders.

Depression

A mental health disorder characterized by persistently low mood and a lack of interest in activities, affecting daily functioning.