Find the Accumulated Amount a If the Principal P Is

question 60

Multiple Choice

Find the accumulated amount A if the principal P is invested at an interest rate of r per year for t years. Round your answer to the nearest cent. ​
P = $150,000, r = 7%, t = 3, compounded daily
​

• A) A = $185,051.71
• B) A = $183,756.45
• C) A = $184,938.84
• D) A = $185,047.98

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Definitions:

Variable Costs

Expenses that change in proportion with the level of production or business activity, such as materials and labor directly involved in manufacturing.

Fixed Costs

Costs that remain constant for a set period of time, regardless of changes in the level of activity or volume of output.

Contribution Margin Ratio

The portion of sales revenue that exceeds variable costs, expressed as a percentage.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business.