Eloise Has Deposited $2,000 in an Investment Account That Pays

question 12

Multiple Choice

Eloise has deposited $2,000 in an investment account that pays 5% compounded continuously.How much will she have in her account in two years?

• A)$2,205.00
• B)$2,210.34
• C)$2,105.54
• D)$1,809.67

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Definitions:

Drawer

In a financial context, the person who writes or issues a check or draft instructing a bank to pay a specified sum of money to a designated party.

Liable

Legally responsible or obligated.

Promissory Note

A written and legally binding promise to pay a specific sum of money to a designated party at a specified time or on demand.

Endorsed

The act of signing one's name on the back of a document, typically a financial instrument, indicating approval or transfer of rights.