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:

Mesoamerican Civilizations

Ancient societies that developed in what is now Mexico and Central America before the Spanish conquest, including the Aztecs, Mayans, and Olmecs.

Aztec Civilization

An indigenous civilization that was highly advanced and flourished in central Mexico in the 14th to 16th centuries before being conquered by the Spanish.

North American Cultures

Diverse and rich cultures of the indigenous peoples and immigrant populations that have inhabited and developed across the North American continent.

Colonization

The act of establishing a colony or colonies in a territory by a country or a group, often involving domination and exploitation of the native inhabitants.