You Place $1,000 in an Account That Pays 7% Interest

question 1

Multiple Choice

You place $1,000 in an account that pays 7% interest compounded continuously.You plan to hold the account exactly 3 years.Simultaneously,in another account you deposit money that earns 8% compounded semiannually.If the accounts are to have the same amount at the end of the 3 years,how much of an initial deposit do you need to make now in the account that pays 8% interest compounded semiannually?

• A)$ 835.94
• B)$ 879.93
• C)$ 926.24
• D)$ 974.99
• E)$1,023.74

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Definitions:

Progenitor

An ancestor or parent cell from which other cells or organisms develop.

Plasma Cell

A type of white blood cell that develops from B cells and produces large volumes of antibodies, playing a key role in the body's immune response.

Antigen Presenting Cells

Immune system cells that process and present antigens to T-cells, initiating an immune response.

Cytotoxic Cells

Immune cells that can kill cancer cells or cells infected with viruses by inducing apoptosis.