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:

Experiential Learning

A learning methodology that involves gaining knowledge and skills through direct experience, hands-on activities, or learning by doing, rather than through traditional academic methods.

Whole Learning

A method where skills or knowledge are taught in their entirety instead of breaking them down into parts.

Part Learning

The process of acquiring knowledge or skills in segments or portions, as opposed to learning an entire body of knowledge at once.

Competency Assessment

Analysis of the sets of skills and knowledge needed for decision-oriented and knowledge-intensive jobs