An Account Now Contains $10,186 and Has Been Accumulating Interest

question 108

Multiple Choice

An account now contains $10,186 and has been accumulating interest at 4% annual interest, compounded continuously, for 6 years. Find the initial deposit. Round answer to the nearest cent.

• A) $12,948.94
• B) $9,786.60
• C) $8,012.59
• D) $8,050.14

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Definitions:

Bilingual

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Cognitive development is the process by which individuals acquire, construct, and understand through thought, experience, and the senses, involving areas such as learning, memory, problem-solving, and decision-making.

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A person engaged in a dialogue or conversation, aiming for mutual understanding and sharing of perspectives.