Solve the Problem

question 52

Multiple Choice

Solve the problem. Round to the nearest cent as needed.
-Samantha's savings account has a balance of $4643. After 25 years, what will the amount of interest be at 6% compounded annually?

• A) $15,289.16
• B) $15,275.16
• C) $15,284.16
• D) $2785.80

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Definitions:

Store

A retail establishment that sells goods or commodities to customers over the counter or through other methods.

Input Prices

The costs associated with the purchase of the materials, labor, and other inputs required for production.

Production Function

Represents the relationship between the quantities of productive factors used (inputs) and the amount of product obtained (output).

Lowest Cost

The minimum expense required to achieve a specific outcome or produce a good.