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:

Income

The financial gain obtained from work, investments, business, or other sources, typically measured over a certain period.

Single Generation

A reference to individuals born and living in the same time period, sharing similar age-related cultural experiences and characteristics.

Modest

Exhibiting behavior or appearance that is reserved, unassuming, and not seeking to attract attention.

Mobility

The ability to move or be moved freely and easily, often referring to social mobility in the context of changing socioeconomic status.