10
QuizMultiple Choice

Banking — Test

Question 10 • Financial Math

Raegan deposits $3,648 in a bank offering an annual interest rate of 3.45% If the interest is compounded continuously and Raegan keeps the money in the bank for 2 years, how much will Raegan have at the end of the period? A=P⁢e^r⁢t

Answer
A
7 dollars comma 273 point 0 7
B
3 dollars comma 619 comma 818 point 1 6
C
$3,908.60
D
3 dollars comma 673 point 2 6
Previous
Next
Raegan deposits $3,648 in a bank offering an…