Complete the Table for a Savings Account in Which Interest

question 29

Multiple Choice

Complete the table for a savings account in which interest is compounded continuously. $$\begin{array} { | c | c | c | c | } \hline \text { Initial investment } & \text { Annual rate } & \text { Time to double } & \text { Amount after 10 years } \\\hline \$7,000& \ldots& \ldots & \$ 13143.27 \\\hline\end{array}$$ (Round the answer up to two decimal places. )

• A)Annual rate: \(6.3 \%\) Time to double: 14 yr
• B)Annual rate: \(6.3 \%\) Time to double: 11 yr
• C)Annual rate: \(10.3 \%\) Time to double: 11 yr
• D)Annual rate: \(8.3 \%\) Time to double: 11 yr
• E)Annual rate: \(6.3 \%\) Time to double: 15 yr

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