An Investment Is Expected to Pay 11% Per Year Compounded

question 21

Multiple Choice

An investment is expected to pay 11% per year compounded continuously.If you want the value of the investment to be $900,000 after 25 years, how much should you invest initially? Round to the nearest dollar.

• A) $14,384
• B) $28,768
• C) $57,535
• D) $115,070
• E) $368,953

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