Complete the Following Chart, Which Illustrates What Happens to $16,000

question 43

Multiple Choice

Complete the following chart, which illustrates what happens to $16,000 invested at various rates of interest for different lengths of time but always compounded continuously. Round your answers to the nearest dollar. $$\begin{array} { | c | c | c | c | c | } \hline & \mathbf { 8 } \% & \mathbf { 1 0 } \% & \mathbf { 1 2 } \% & \mathbf { 1 4 } \% \\\hline 5 \text { years } & & & & \\\hline 8 \text { years } & & & & \\\hline 11 \text { years } & & & & \\\hline 14 \text { years } & & & & \\\hline 17 \text { years } & & & & \\\hline\end{array}$$

• A) \(\begin{array} { | c | c | c | c | c | }
• \hline & \mathbf { 8 } \% & \mathbf { 1 0 } \% & \mathbf { 1 2 } \% & \mathbf { 1 4 } \% \\
• \hline 5 \text { years } & 23869 & 26380 & 29154 & 32220 \\
• \hline 8 \text { years } & 30344 & 35609 & 41787 & 49038 \\
• \hline 11 \text { years } & 38574 & 48067 & 59895 & 74633 \\
• \hline 14 \text { years } & 49038 & 64883 & 85849 & 113589 \\
• \hline 17 \text { years } & 62339 & 87583 & 123050 & 172878 \\
• \hline
• \end{array}\)
• B) \(\begin{array} { | c | c | c | c | c | }
• \hline & \mathbf { 8 } \% & \mathbf { 1 0 } \% & \mathbf { 1 2 } \% & \mathbf { 1 4 } \% \\
• \hline 5 \text { years } & 32220 & 29154 & 26380 & 23869 \\
• \hline 8 \text { years } & 49038 & 41787 & 35609 & 30344 \\
• \hline 11 \text { years } & 74633 & 59895 & 48067 & 38574 \\
• \hline 14 \text { years } & 113589 & 85849 & 64883 & 49038 \\
• \hline 17 \text { years } & 172878 & 123050 & 87583 & 62339 \\
• \hline
• \end{array}\)
• C) \(\begin{array} { | c | c | c | c | c | }
• \hline & \mathbf { 8 } \% & \mathbf { 1 0 } \% & \mathbf { 1 2 } \% & \mathbf { 1 4 } \% \\
• \hline 5 \text { years } & 47738 & 52759 & 58308 & 64440 \\
• \hline 8 \text { years } & 60687 & 71217 & 83574 & 98075 \\
• \hline 11 \text { years } & 77149 & 96133 & 119789 & 149267 \\
• \hline 14 \text { years } & 98075 & 129766 & 171698 & 227178 \\
• \hline 17 \text { years } & 124678 & 175166 & 246099 & 345757 \\
• \hline
• \end{array}\)
• D) \(\begin{array} { | c | c | c | c | c | }
• \hline & \mathbf { 8 } \% & \mathbf { 1 0 } \% & \mathbf { 1 2 } \% & \mathbf { 1 4 } \% \\
• \hline 5 \text { years } & 11935 & 13190 & 14577 & 16110 \\
• \hline 8 \text { years } & 15172 & 17804 & 20894 & 24519 \\
• \hline 11 \text { years } & 19287 & 24033 & 29947 & 37317 \\
• \hline 14 \text { years } & 24519 & 32442 & 42924 & 56795 \\
• \hline 17 \text { years } & 31170 & 43792 & 61525 & 86439 \\
• \hline
• \end{array}\)
• E) \(\begin{array} { | c | c | c | c | c | }
• \hline & \mathbf { 8 } \% & \mathbf { 1 0 } \% & \mathbf { 1 2 } \% & \mathbf { 1 4 } \% \\
• \hline 5 \text { years } & 62339 & 87583 & 123050 & 172878 \\
• \hline 8 \text { years } & 49038 & 64883 & 85849 & 113589 \\
• \hline 11 \text { years } & 38574 & 48067 & 59895 & 74633 \\
• \hline 14 \text { years } & 30344 & 35609 & 41787 & 49038 \\
• \hline 17 \text { years } & 23869 & 26380 & 29154 & 32220 \\
• \hline
• \end{array}\)

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Definitions:

Chronological Age

The amount of time that has passed since an individual's birth, measured in years.

IQ

Intelligence quotient, a measure of a person's cognitive abilities in relation to their age group.

Superior Verbal

Describes individuals who have exceptionally good skills in expressing themselves using language.

Mathematical Talent

Exceptional ability or skill in understanding and solving mathematical problems.