Use the compound interest formula for continuous compounding to determine the accumulated balance after the stated period. A $6958 deposit in an account with an APR of 6.5% compounded continuously for 4 years.
A. $9362.68
B. $8951.23
C. $9005.20
D. $9024.04
Answer: D
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Solve.Mike and Carrie are in the 28% marginal tax bracket and claim the standard deduction. How much will their tax bill be reduced if they qualify for a $900 tax credit?
A. $1152.00 B. $900 C. $252.00 D. $430.00
Find the indicated sum.
A. 54 B. 162 C. 108 D. 81
Establish the identity.sec 
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What will be an ideal response?
Aunt Darla has agreed to deposit a lump sum into an account that pays 12% interest compounded annually in order to pay for her niece's college education. The niece estimated that she will need to withdraw $40,000 at the beginning of each year for four years to pay for room, board, tuition, and books. Aunt Darla will deposit the lump sum on August 1, 2016, and the niece will make the first withdrawal on August 1, 2022. ? Required: ? Determine the amount that Aunt Darla must deposit. Clearly label all work.
What will be an ideal response?