May 13: DAY 3 Continuously Compounded Interest

Stephanie invests $2,956 in a retirement account with a

fixed annual interest rate of 9% compounded continuously.

What will the account balance be after 13 years?

• $8,924.83

• $9,524.21

• $10,421.15

• $11,402.55

Kathryn invests $8,327 in a savings account with a

fixed annual interest rate compounded continuously. After

10 years, the balance reaches $18,532.08. What is the

interest rate of the account?

• 6%

• 7%

• 8%

• 9%

Mei invests $6,285 in a savings account with a fixed annual

interest rate of 4% compounded continuously. How many years will it take for the account balance to reach $7,989.80? (Type answer in WHOLE number of years NO Decimals)

(a)  

Mofor invests a sum of money in a savings account with a

fixed annual interest rate of 5% compounded continuously.

After 9 years, the balance reaches $9,061.71. What was the

amount of the initial investment?

• $5,521

• $5,778

• $6,292

• $5,264

Julio invests $3,853 in a savings account with a

fixed annual interest rate of 4% compounded continuously. How long will it take for the account balance to reach $5,098.02? Type answer in WHOLE years NO decimals)

(a)  

Norachai invests a sum of money in a retirement account

with a fixed annual interest rate of 7% compounded

continuously. After 14 years, the balance reaches

$17,348.27. What was the amount of the initial investment?

• $6,254

• $6,768

• $5,997

• $6,511

Bill invests $4,014 in a savings account with a fixed annual

interest rate compounded continuously. After 7 years, the

balance reaches $5,696.14. What is the interest rate of the

account?

• 2%

• 3%

• 4%

• 5%

Eugene invests $5,774 in a retirement account with a

fixed annual interest rate of 6% compounded continuously. What will the account balance be after 14 years?

• $15,307.84

• $13,175.58

• $14,344.48

• $13,374.70