Money Is Transferred Continuously into an Account at the Constant

question 7

Multiple Choice

Money is transferred continuously into an account at the constant rate of $1,000 per year.Assume the account earns interest at the annual rate of 8% compounded continuously.Compute the future value of the income stream over a 5 year period.

• A)$12,295.62
• B)$6,147.81
• C)$491.82
• D)$24,591.23

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Definitions:

Effective Teams

Groups of individuals working together in a way that maximizes their efficiency and ability to achieve shared goals.

Specific Steps

Detailed and sequential actions or procedures followed to achieve a particular end.

Problem-solving Team

A group of individuals who come together to address specific issues or challenges within an organization, working collaboratively to find solutions.

Distribution Department

The division within a company responsible for the storage, handling, and shipping of products to customers.