An Account Now Contains $10,118 and Has Been Accumulating Interest

question 43

Multiple Choice

An account now contains $10,118 and has been accumulating interest at 8% annual interest, compounded continuously, for 6 years. Find the initial deposit. Round your answer to the nearest cent.

• A) $16,351.44
• B) $9,340.09
• C) $6,260.85
• D) $6,376.06

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Definitions:

Labor-Management Committees

Groups formed by representatives of both labor and management to address and resolve workplace issues, improve labor relations, and enhance communication.

Strategic Partners

Entities that form a partnership in order to achieve common goals or undertake specific projects with mutual benefits.

Protecting Workers

Efforts and regulations designed to ensure the safety, rights, and well-being of employees in the workplace.

TEAM Act

A proposed or existing legislative act focused on Teamwork for Employee Advancement and Management, potentially involving policies that influence employee-employer relations and collaborative work environments.