Use the Formula to Find the Total Amount of Money

question 9

Multiple Choice

Use the formula to find the total amount of money accumulated at the end of the indicated time period by compounding continuously. Please round the answers to the nearest hundredth. $7,000 for 35 years at 13%.

• A) $606,927.99
• B) $529,502.67
• C) $566,096.83
• D) $466,849.94
• E) $592,807.49

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Definitions:

Subculture

A cultural group within a larger culture, often having beliefs or interests at variance with those of the larger culture.

Distinctive Values

Unique or specific beliefs and principles that differentiate one culture, society, or individual from another, guiding behaviors and decisions.

Larger Culture

The dominant set of norms, values, beliefs, and practices that characterizes a larger society or population group.

Rationalization

The process of making actions or outcomes seem reasonable or logical, often by creating a plausible explanation.