Solve the Problem

question 69

Multiple Choice

Solve the problem. Round to the nearest cent as needed.
-How long will it take for $8400 to grow to $14,600 at an interest rate of 9.4% if the interest is compounded continuously? Round the number of years to the nearest hundredth.

• A) 0.59 year
• B) 0.06 year
• C) 5.88 years
• D) 58.81 years

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Definitions:

Under-reward Inequity

A form of perceived injustice that occurs when an individual believes they are receiving less reward in comparison to others for similar contributions.

Instrumentality

The extent to which a person believes that performing at a particular level will lead to the attainment of a desired outcome.

Self-concordance

The degree to which people's life goals are congruent with their inner interests and values, often linked to higher motivation and achievement.

Perceived Inequities

The feeling among individuals that they are not receiving a fair share of rewards or resources compared to others.