​How Long (In Years)would $800 Have to Be Invested at an Annual

question 212

Multiple Choice

​How long (in years) would $800 have to be invested at an annual rate of 11%,compounded continuously,to amount to $1060? Round your answer to two decimal places. ​

• A) ​2.95 years
• B) ​2.70 years
• C) ​0.56 years
• D) 3.38​ years
• E) ​2.56 years

---

Definitions:

Atomic Weapon

A powerful weapon of mass destruction that releases energy through nuclear reactions, either fission or a combination of fission and fusion.

German Scientists

Scientists from Germany who have contributed significantly to various fields of study, including physics, chemistry, biology, and engineering, among others.

New Deal

A series of programs and projects instituted during the Great Depression by President Franklin D. Roosevelt with the aim of restoring prosperity to Americans.

Unregulated Free Market

An economic system without governmental oversight where prices are determined by unrestricted competition between privately owned businesses.