Money Is Transferred Continuously into an Account at the Constant

question 6

Multiple Choice

Money is transferred continuously into an account at the constant rate of $1,100 per year.The account earns interest at the annual rate of 8% compounded continuously.How much will be in the account at the end of 3 years?

• A)$3,300.00
• B)$1,746.97
• C)$151,567.68
• D)$3,729.68

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Definitions:

Pallets

Flat transport structures that support goods in a stable manner while being lifted by forklifts, pallet jacks, or other jacking devices, key in logistics and storage.

Technology Close

A close in which the seller uses technology to present information.

Act Professionally

Conducting oneself in a manner that is ethical, responsible, and respectful within a professional environment, often adhering to the standards and expectations of the profession.

T-Account Close

The process of transferring the balances of temporary accounts to a permanent account at the end of an accounting period to prepare for a new period.