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:

Download

The process of transferring files or data from one computer system to another, typically from a server on the Internet to a personal device or computer.

Sole Proprietorship

A business structure where a single individual owns, manages, and is responsible for all aspects of the business, including liabilities.

Transfer of Ownership

The legal process by which the title of a property or asset is moved from one party to another.

Franchise

A business model where one party (the franchisor) grants another party (the franchisee) the rights to use its trademark and business systems and processes to produce and market goods or services according to certain specifications.