Solve the Problem. -A Bank Offers a Certificate of Deposit That Earns 4.5

question 43

Multiple Choice

Solve the problem.
-A bank offers a certificate of deposit that earns 4.5% interest compounded continuously. How much will a $4,000 investment be worth in 10 years? Round to the nearest cent as needed.

• A) $4,200.00
• B) $4,180.00
• C) $6,273.25
• D) $5,967.30

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Definitions:

Functional Risk

The potential for a product or service to fail to perform its intended function, causing inconvenience or loss to the user.

Directed Learning

A form of learning where the objectives and the process are defined and structured by instructors, teachers, or educational systems.

Actual State-Need

The current condition of an individual that prompts a recognition of a need, leading to a decision-making process to fulfill that need.

Marketing Promotions

Activities or campaigns designed to increase consumer awareness or demand for a product or service, often through advertisements or special offers.