Solve the Problem. -What Principal Invested at 8% Compounded Continuously for 4 Years

question 176

Multiple Choice

Solve the problem.
-What principal invested at 8% compounded continuously for 4 years will yield $1190? Round the answer to two decimal places.

• A) $1638.78
• B) $1188.62
• C) $864.12
• D) $627.48

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Definitions:

Planning Budget

A budget prepared for a specific level of activity that may be adjusted for various activity levels.

Vocational School

An educational institution that provides practical and skills-based training aimed at preparing students for specific trades, professions, or careers.

Budgets

Financial plans that estimate revenue and expenditures over a specific period, helping organizations plan their finances.

Standard Costs

Predetermined costs for materials, labor, and overhead used for budgeting and assessing performance.