If $6000 Is Invested in an Account for Which Interest

question 64

Short Answer

If $6000 is invested in an account for which interest is compounded continuously, find the amount of the investment at the end of 12 years for the following interest rates.
(a) 2%
(b) 7%

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Definitions:

Conditioned Response

A learned reaction to a previously neutral stimulus that becomes elicited by the stimulus after repeated associations with an unconditioned stimulus.

Hypodermic Needle

This refers to a slender, hollow needle attached to a syringe, used for injecting substances into the body or extracting fluids from it.

Unconditioned Stimulus

A stimulus that naturally triggers a response without the need for prior learning.

Unconditioned Response

An automatic, natural reaction to a stimulus that occurs without any prior learning or conditioning.