You Place a Sum of $600 in a Savings Account

question 14

Multiple Choice

You place a sum of $600 in a savings account at 4% per annum compounded continuously. When will the balance reach $800?

• A) in 7.23 years
• B) in 5.99 years
• C) in 15.59 years
• D) in 7.19 years
• E) in 4.6 years

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Definitions:

Compressing

The act of reducing the size of files or data to save space or expedite transmission, usually through a process that removes redundancies.

Zipping

The process of compressing files or folders into a single file to reduce their size for easier storage or transmission.

Slideshow

A presentation of a series of images or slides displayed in sequence, often used for demonstrations or educational purposes.

Desktop Theme

A collection of settings and elements that determine the visual appearance of the desktop and applications on a computer, including wallpapers, icons, and color schemes.