How Much Interest Can Be Accumulated During One Year on a $1,000

question 98

Multiple Choice

How much interest can be accumulated during one year on a $1,000 deposit paying continuously compounded interest at an APR of 10%?

• A) $100.00
• B) $105.17
• C) $110.50
• D)$115.70

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Definitions:

Brown Algae

A large group of mostly marine multicellular algae, including many seaweeds, that are typically brown due to the presence of fucoxanthin pigment.

Representative Clade

A taxonomic group representing a branch on the tree of life, including an ancestor and all its descendants.

Supergroup

A high-level taxonomic rank in the classification of organisms that is above the level of kingdom, used to organize the diversity of life.

Diplomonads

Diplomonads are a group of protozoans, often parasites, characterized by having two nuclei and a symmetrical appearance.