The Initial Investment in a Savings Account in Which Interest

question 63

Multiple Choice

The initial investment in a savings account in which interest is compounded continuously is $768. If the time required to double the amount is years, what is the amount after 13 years? Round your answer to the nearest cent. ​

• A) $2,090.17
• B) $1,982.88
• C) $2,101.89
• D) $1,582.88
• E) $10,525.90

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Definitions:

Arrests

Refers to the act of detaining a person or persons, typically by legal authority, as a response to an alleged crime.

Variability

The extent to which data points in a statistical distribution or dataset differ from each other and from the central tendency.

Directionality

The characteristic of a relationship in statistics that indicates if one variable increases as the other variable increases or decreases.

American Psychological Association

A professional organization representing psychologists in the United States, also known for its publication standards for research.