What Will Be the Amount in an Account with Initial

question 94

Multiple Choice

What will be the amount in an account with initial principal $9000 if interest is compounded continuously at an annual rate of 7.25% for 7 years?

• A) $14,950.20
• B) $5066.20
• C) $9676.74
• D) $9000.00

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Definitions:

Maximize Profits

The process of adjusting the production level, pricing, or other variables to achieve the highest possible financial gain.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level in a specified period.

Markets

Venues or systems where buyers and sellers engage in the exchange of goods, services, and information.

Constant Marginal Cost

A situation where the cost of producing an additional unit of output does not change with the level of production.