If $16000 Is Invested at an Interest Rate of 6

question 260

Multiple Choice

If $16000 is invested at an interest rate of 6% for 25 years compounded continuously determine the annual growth rate if the money were compounded quarterly? Rounded to the nearest thousandth of a percent.

• A) 0.011%
• B) 6.000%
• C) 6.184%
• D) 0.060%
• E) 106.184%

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