Solve the Problem. -Larry Has $2200 to Invest and Needs $2700 in 12

question 154

Multiple Choice

Solve the problem.
-Larry has $2200 to invest and needs $2700 in 12 years. What annual rate of return will he need to get in order to accomplish his goal, if interest is compounded continuously? (Round your answer to two
Decimals.)

• A)1.71%
• B)1.49%
• C)2.49%
• D)3.49%

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Definitions:

Proof

Evidence or argument establishing a fact or the truth of a statement in the context of legal proceedings or other formal inquiries.

Preponderance

The greater weight of evidence, or evidence that is more convincing than the evidence offered in opposition to it.

Evidence

Information or facts presented in a legal proceeding to establish the truth of an assertion or to prove a point in dispute.

Proof

Proof is evidence or argument establishing a fact or the truth of a statement in a legal or logical context.