To help their son buy a car on his 16th birthday, a boy's parents invest $800 on his 11th birthday. If the investment pays an annual rate of 11% compounded continuously, how much is available on his 16th birthday? Round your answer to the nearest cent.
?
A. $1,154.33
B. $1,386.60
C. $1,265.15
D. $1,590.99
E. $2,000.75
Answer: B
You might also like to view...
Evaluate the surface integral of the function g over the surface S.G(x, y, z) = ; S is the surface of the parabolic cylinder 10y2 + 5z = 15 bounded by the planes
x = 1, y = 0, and z = 0
A.
B.
C.
D.
Solve the problem.Use Newton's method to find the value of x for which Find the answer correct to five decimal places.
A. -2.99263 B. -2.99294 C. -2.99288 D. -2.99107
Solve the problem.Mark Stephens owns rental units with a replacement cost of $290,000 which are insured for $188,500 with an 80% coinsurance clause. There is a fire loss of $20,500. How much will the insurance company pay?
A. $16,656 B. $19,988 C. $20,500 D. $13,325
Solve the problem.The demand equation for a certain product is P = 75 - 0.001x, where x is the number of units sold per week and P is the price in dollars at which one is sold. The weekly revenue R is given by What number of units sold produces a weekly revenue of $60,000?
A. 792 units B. 809 units C. 59,925,000 units D. 74,191 units