You are saving for your retirement by investing $1000 per month in an annuity with a guaranteed interest rate of 6% per year. With a continuous stream of investment and continuous compounding, how much will you have accumulated in the annuity by the time you retire in 15 years? Round your answer to the nearest cent.
?

A. $180,000.00
B. $1,459.60
C. $691,920.62
D. $281,313.93
E. $291,920.62


Answer: E

Mathematics

You might also like to view...

Graph the integrand and use geometry to evaluate the integral.

A. 36? B. 6? C. 18? D. 36

Mathematics

Solve the triangle.a = 8, b = 14, c = 16

A. A = 30°, B = 61°, C = 89° B. A = 28°, B = 61°, C = 91° C. A = 32°, B = 59°, C = 89° D. no triangle

Mathematics

Find the first four terms of the Taylor series for the function.f(x) = e3x, centered at x = 0

A. + 9+ x2 + x3 + ...
B. + 3+ x2 + x3 + ...
C. + 3+ x2 + x3 + ...
D. + 3+ x2 + 9x3 + ...

Mathematics

Solve the problem.A rug is to fit in a room so that a border of even width is left on all four sides. If the room is 17 feet by 22 feet and the area of the rug is 204 square feet, how wide will the border be?

A. 3.5 feet B. 4.5 feet C. 5 feet D. 2.5 feet

Mathematics