An Initial Amount of $5500 Is Invested in an Account

question 64

Multiple Choice

An initial amount of $5500 is invested in an account with interest compounded continuously. The interest rate is 10%. Find the value of the account after 14 years.

• A) $22,303.60
• B) $6,614,323,547.27
• C) $21,643.60
• D) $5501.40

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Definitions:

Therapeutic Change

The process of transformation or improvement in a client's thoughts, feelings, behaviors, or overall well-being through therapy.

Insight

The understanding and awareness of the underlying causes of one's thoughts, feelings, and behaviors.

Unconditional Positive Regard

A term in psychology associated primarily with humanistic approaches, particularly Carl Rogers, describing an attitude of total acceptance and support toward another person regardless of what they say or do.

Accurate Empathy

The skill of understanding a client's thoughts, feelings, and struggles from their point of view.