You Need a Down Payment of $18,400 in Order to Purchase

question 3

Multiple Choice

You need a down payment of $18,400 in order to purchase your first home 4 years from today.You currently have $14,014 to invest.In order to achieve your goal,what nominal interest rate,compounded continuously,must you earn on this investment? Do not round your intermediate calculations.

• A) 7.15%
• B) 6.81%
• C) 7.28%
• D) 5.51%
• E) 6.26%

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The process of making something acceptable, valid, or justified according to established rules, standards, or beliefs.

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A sociological concept describing the expectations placed on an individual who is ill, including how to behave and how they are supposed to be treated by others.

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