Use the Compound Interest Formula for Compounding More Than Once

question 12

Multiple Choice

Use the compound interest formula for compounding more than once a year to determine the accumulated balance afterthe stated period.
-$2500 deposit at an APR of 4% with monthly compounding for 6 years

• A)$2550.42
• B)$2541.48
• C)$14,046.64
• D)$3176.85

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Definitions:

Lyses

The breakdown or decomposition of cells by rupture of the cell wall or membrane.

Metabolic Diversity

The variation in metabolic pathways and processes among different organisms, allowing adaptation to a wide range of environmental conditions.

Autotrophic

Organisms that are capable of producing their own food from inorganic substances using light or chemical energy, like plants through photosynthesis.

Heterotrophic

Describes organisms that obtain their energy by consuming other organisms since they cannot synthesize their own food.