Solve the Problem $\$ 3,000$ Bond Grows To $\$ 4,475.47$ In 8 Yr Under Continuous Compounding

question 139

Multiple Choice

Solve the problem.
-A $\$ 3,000$ bond grows to $\$ 4,475.47$ in 8 yr under continuous compounding. Find the interest rate. Round our answer to the nearest whole percent.

• A) \(8 \%\)
• B) \(5 \%\)
• C) \(7 \%\)
• D) \(6 \%\)

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Definitions:

Discontinuity Effect

The phenomenon where groups are more likely to engage in extreme or aggressive behavior compared to individuals acting alone.

Hostile Competition

A form of rivalry where participants engage in aggressive behaviors and tactics to win or outperform each other.

Rationalization

the process of justifying behaviors or attitudes with logical, plausible reasons, even if these are not the true underlying motivations.

Political Goals

Objectives set by individuals or groups related to governing, influencing policy, or achieving power within a political framework.