Complete the Table for a Savings Account in Which Interest

question 31

Multiple Choice

Complete the table for a savings account in which interest is compounded continuously. $$\begin{array} { | c | c | c | c | } \hline \text { Initial investment } & \text { Annual rate } & \text { Time to double } & \begin{array} { c } \text { Amount after 10 } \\\text { years }\end{array} \\\hline \$ 9,000 & \ldots & 13 \mathrm { yr } & \cdots \\\hline\end{array}$$
(Round the answer up to two decimal places. )

• A)Annual rate: \(5.33 \%\) Amount after 10 years: \(\$ 14,836.33\)
• B)Annual rate: \(5.33 \%\) Amount after 10 years: \(\$ 15,836.33\)
• C)Annual rate: \(5.33 \%\) Amount after 10 years: \(\$ 15336.33\)
• D)Annual rate: \(9.33 \%\) Amount after 10 years: \(\$ 15336.33\)
• E)Annual rate: \(7.33 \%\) Amount after 10 years: \(\$ 15336.33\)

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Definitions:

Electrical Current

The flow of electric charge carried by electrons moving through a conductor, measured in amperes.

Amperes

The unit of electrical current, representing the flow of electric charge per second.

Magnetic Field

A region around a magnetic material or a moving electric charge within which the force of magnetism acts.

Conductor

Wires, terminals, and connectors that carry electricity in circuits.