Solve the Problem $\mathrm { A } = 5,300 \mathrm { e } ^ { 0.045 \mathrm { t } }$

question 297

Multiple Choice

Solve the problem.
-The value of a particular investment follows a pattern of exponential growth. In the year 2000, you invested money in a money market account. The value of your investment t years after 2000 is given by the exponential
Growth model A $\mathrm { A } = 5,300 \mathrm { e } ^ { 0.045 \mathrm { t } }$ . How much did you initially invest in the account?

• A) $2,650.00
• B) $5,543.95
• C) $238.50
• D) $5,300.00

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Definitions:

Extended Time

Additional time allotted beyond the original schedule or deadline for completing a task or project.

Percentage-Of-Completion Method

An accounting technique used in long-term project accounting that estimates and recognizes revenue and expenses as a percentage of the work completed.

Revenue Recognition

This is the accounting principle that dictates the specific conditions under which revenue is recognized or accounted for.

Sale

The act of selling goods or services in exchange for money or other compensation.