If $7,000 Is Invested at an Annual Rate of 11

question 53

Multiple Choice

If $7,000 is invested at an annual rate of 11.5% compounded continuously, the future value S at any time t (in years) is given by . What is the amount after 12 months? Round your answer to the nearest cent. ​

• A) $27,824.31
• B) $7,848.82
• C) $17,838.71
• D) $17,838.72
• E) $7,853.11

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