An Initial Deposit of $26,000 Grows at an Annual Rate

question 55

Multiple Choice

An initial deposit of $26,000 grows at an annual rate of 7% for 20 years. Compare the final balances resulting from continuous compounding and annual compounding. Round the answers to the nearest cent.

• A) $100,610.89 from annual compounding; $105,433.70 from continuous compounding
• B) $100,611.80 from annual compounding; $105,435.20 from continuous compounding
• C) $100,613.85 from annual compounding; $105,455.20 from continuous compounding
• D) $100,608.80 from annual compounding; $105,437.25 from continuous compounding

Identify and assess the effects of neoliberalism on global inequality.

Understand strategies used to challenge or subvert corporate messaging by global movements.

Learn about economic philosophies aimed at stabilizing extreme economic fluctuations through government policy.

Understand the characteristics and roles of autotrophs in ecosystems.

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Definitions:

Promotional Strategies

Planned actions designed to communicate the value of a product or service to customers to increase sales.

Data

Raw numbers or facts.

Information

Data that is organized, processed, or structured in a way that it becomes meaningful and useful for making decisions.

Demographic Data

Statistical data relating to the population and the particular groups within it, such as age, gender, income level, etc.