The Initial Investment in a Savings Account in Which Interest

question 12

Multiple Choice

The initial investment in a savings account in which interest is compounded continuously is $604. If the time required to double the amount is years, what is the amount after 15 years? Round your answer to the nearest cent.

• A) $1,917.58
• B) $1,804.46
• C) $1,907.37
• D) $1,404.46
• E) $8,278.18

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Definitions:

Myelinated Axons

Axons that are covered with myelin, a fatty substance that speeds up the transmission of nerve impulses.

Posterior Root Ganglion

A cluster of nerve cell bodies (neurons) located in the dorsal root of the spinal nerve, involved in transmitting sensory information to the central nervous system.

Sensory Neuron

A type of neuron that transmits signals from sensory receptors to the central nervous system.

Sensory Neurons

Neurons that transmit sensory information from the body's periphery towards the central nervous system.