How Much Interest Will Be Earned in an Account into Which

question 60

Multiple Choice

How much interest will be earned in an account into which $1,000 is deposited for one year with continuous compounding at a 13 percent rate?

• A)$130.00
• B)$138.83
• C)$169.00
• D)$353.34 1000 (e.¹³) =
• 1000 x 1.1388 = $1,138.83

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Definitions:

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A sequence of steps or operations in software programming designed to perform a specific task or function.

Manipulates

Describes the process of handling, controlling, or operating objects, data, or machinery using hands-on methods or software tools.

Convert

Convert means to change something into a different form or type, often used in contexts like converting file formats or units of measurement.

Macro

Referring to programming, it consists of a sequence of commands intended to automate repetitive tasks.