​Determine the Principal P That Must Be Invested at Interest

question 267

Multiple Choice

​Determine the principal P that must be invested at interest rate r compounded continuously,so that $1,000,000 will be available for retirement in years , Round your answer to the nearest cent. ​

• A) ​$49787.07
• B) ​$50787.07
• C) ​$49000.04
• D) ​$40000.06

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Definitions:

Policy Makers

Individuals or bodies responsible for formulating and implementing public policies, laws, and regulations, often within governmental or legislative institutions.

Aggregate Supply

The total supply of goods and services that are available to consumers in an economy at a given price level in a given period.

Passive Approach

A passive approach involves a non-interventionist or minimal-effort strategy of dealing with situations, often contrasted with active strategies that require direct action.

Discretionary Fiscal Policy

Discretionary Fiscal Policy involves government action to stimulate or restrain the economy via changes in taxation and spending, based on current economic conditions.