Complete the Table for a Savings Account in Which Interest

question 9

Multiple Choice

Complete the table for a savings account in which interest is compounded continuously. $$\begin{array} { | c | c | c | c | } \hline \text { Initial investment } & \text { Annual rate } & \text { Time to double } & \text { Amount after 10 years } \\\hline \ldots& 6.93 \% & \ldots & \$ 3999.41 \\\hline\end{array}$$

• A)Initial investment: \(\$ 2,000\) Time to double: 10 yr
• B)Initial investment: \(\$ 1,950\) Time to double: 10 yr
• C)Initial investment: \(\$ 2,200\) Time to double: 10 yr
• D)Initial investment: \(\$ 2,050\) Time to double: 10 yr
• E)Initial investment: \(\$ 2,100\) Time to double: 10 yr

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Definitions:

Complementary

Refers to things that combine in such a way as to enhance or emphasize each other's qualities, or the use of alternative therapies alongside conventional treatments in medicine.

Proximal

Referring to something that is close in distance, time, or relationship.

Rewarding

Describes an experience, activity, or behavior that provides satisfaction, enjoyment, or a sense of achievement.

Reciprocal

Pertaining to a mutual relationship or action in which two entities engage in an exchange or similar actions towards each other.